Japan sanctions Bengaluru-based tech firm for ‘helping’ Russia evade trade restrictions

PTI, Jun 24, 2024, 7:59 AM IST

Representative image (Source: Pexels)

New Delhi: A Bengaluru-based Indian technology company is among at least 10 firms from several countries against whom Japan has imposed sanctions for allegedly helping Russia evade punitive economic measures.

The actions against the companies including asset freeze and export bans were announced by the Japanese Foreign Ministry.

The other companies belonged to China, Kazakhstan, Uzbekistan and the United Arab Emirates.

The West and its allies have imposed strict punitive trade and economic sanctions against Russia over its invasion of Ukraine.

Japan has introduced punitive measures under the Foreign Exchange and Foreign Trade Act, the Japanese foreign ministry said in a statement.

It named the Indian company in the list of firms which will be facing sanctions from the Japanese government.

Last week, Japanese Prime Minister Fumio Kishida said at the G7 summit in Italy that his government is imposing sanctions on companies and groups which are helping Russia evade economic sanctions.

The G7 grouping has imposed a series of punitive sanctions against Russia including asset freeze for its invasion of Ukraine.

Japan has already imposed punitive measures on a number of Russian companies.