On 24 September 2014, Japanese Chief Cabinet Secretary Yoshihide Suga announced increased economic sanctions on Russia. The new measures will restrict the export of military technology to Russia, as well as ban five Russian banks from acquiring securities on the Japanese market. The banks in question are Sberbank, VTB Bank, Vnesheconombank, Gazprombank and Rosselkhozbank.
These new measures represent a third round of sanctions against Russia by Japan. Japan has thus far been more cautious in its sanctions than the US or the EU, however Suga stated the country’s intention to bring its actions against Russia more in line with other G7 members.