Japan Insists Businesses not to Allow Transactions in Roubles

Japan has asked business organisations not to pay for Russian gas in roubles. The decision came after Russia had said ' unfriendly' countries make payments for energy in roubles instead of euros.

Chief Cabinet Secretary Hirokazu Matsuno said Japanese companies would refuse Russia's demand that gas payments must be in roubles.

Last week, Russia said 'unfriendly' countries should pay for energy in roubles rather than euros, following the U.S. and European countries' sanctions on Russia for invading Ukraine.

Shunichi Suzuki, Japanese Finance Minister, told in a recent parliamentary session that the government does not understand Moscow's motives and how they would do this.

Japan has also imposed sanctions on Russia over its Ukrainian invasion. The sanctions include targeting the deputy chiefs of staff for President Putin's administration, executives of companies having associations and ties with the Kremlin, and the head of the Chechen Republic.

The Japanese government restricted Russia's access to the SWIFT international payment system by targeting its central bank, repealed Russia's most-favoured-nation trade status, and banned Russia-bound oil refinery equipment.

Major businesses in Japan, such as Toyota, Sony, Honda, Nintendo, parked exports to Russia because of safety, supply chains, logistics, and other concerns.

South Korea, Singapore, Taiwan have also announced sanctions against Russia besides Japan.