There will be no remittances or dollar transactions.
Japan's three largest banks – MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corp – are suspending remittances and dollar transactions with Russia's Sberbank . This was reported by Japan Today. The decision was made due to US sanctions : the country banned any operations with Sberbank back in February. The ban takes effect on March 28.
Sources in the Japan Times report that Japanese banks are likely to look for alternative ways to make payments. For example, transfers through non-US banks.
Read also: Japan has expanded sanctions against Russia, including 25 people and 81 companies
Earlier, Japanese companies Eneos and Idemitsu announced that they would stop buying Russian oil . The decision will take effect after the execution of current contracts.
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