Moscow Says Japan's Sanctions Against Russia Incompatible With Principles Of Free Trade

GENEVA (UrduPoint News / Sputnik - 02nd March, 2023) Russian Permanent Representative to the World Trade Organization (WTO) Dmitry Lyakishev criticized sanctions imposed by Japan against Russia as incompatible with the principles of non-discrimination and free trade, a source in Geneva told journalists.

Lyakishev condemned Japan's unilateral sanctions against Russia, which Tokyo has put in place in 2022 over Moscow's military operation in Ukraine, as incompatible with the principles of free trade. He also expressed regret that Tokyo's actions helped strip Russia of it's "most favored nation" trade status, allowing for steeper tariffs against it, according to the source.

The Russian diplomat also said that Japan's move to ban its companies from investing in Russia and introduce a price cap on Russian oil and oil products had contributed to the erosion of the role of the WTO in global trade and led to a further fragmentation of the multilateral trade system.

Earlier in the week, Tokyo froze the assets of 39 people and 73 organizations from Russia in the latest sanctions efforts. The measures target Russian Deputy Defense Minister Viktor Goremykin and high-ranking officials in the Russian Presidential Administration, Alexander Kharichev and Boris Rapoport, among other people.

The sanctions imposed by the Japanese government since the beginning of Russia's military operation in Ukraine in February 2022 apply to more than 987 people from Russia, the Donetsk and Luhansk people's republics, more than 400 Russian companies and organizations, as well as 12 banks.