Japan to maintain trade sanctions against Russia for another year

Japan’s government decided Friday to keep Russia stripped of its “most-favored-nation” trade status for another year beyond the end of March, with Moscow’s aggression against Ukraine showing no signs of ending. In April 2022, Japan’s parliament gave the green light to deprive Russia for a year of benefits such as low tariffs and few trade barriers as punitive economic sanctions following its invasion of its neighbor in February that year. All imports from Russia will continue to be subject to higher duties until the end of March 2024, including a 5 percent tariff on salmon, up from the previou…

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