ChainCatcher report, according to Cointelegraph, Japan’s Ministry of Foreign Affairs, Ministry of Finance, and Ministry of Economy, Trade and Industry jointly issued a statement on Friday formally adding the Russian cryptocurrency exchange Garantex to its asset freeze list. This measure will strictly restrict fund transfers and capital transactions related to Garantex. The statement noted that this expansion of sanctions is due to Russia’s ongoing war in Ukraine. Garantex had previously been sanctioned by the United States, the European Union, and multiple other jurisdictions for allegedly assisting Russian entities in evading financial restrictions. In addition to the cryptocurrency platform, Japan has also added 33 related organizations and nine individuals to its sanctions list, and imposed prohibitions on repairs and insurance services for 35 vessels suspected of transporting Russian crude oil as part of a “shadow fleet.”
Japan Adds Russian Crypto Exchange Garantex to Sanctions List
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Summary
Japan added the Russian crypto exchange Garantex to its sanctions list, restricting financial transactions and capital activities. This move expands sanctions against Russia’s war in Ukraine. Garantex was previously targeted by the U.S. and EU for assisting Russian entities in circumventing restrictions. Japan also sanctioned 33 groups, nine individuals, and banned services for 35 ships linked to oil exports. The latest crypto exchange news underscores ongoing global enforcement efforts. No exchange hack was reported in this action.
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