TOKYO, June 27. /TASS/. Japan's decision to ban gold imports from Russia will not have a real effect on the bilateral trade, since it hardly buys it anyway, a Japanese expert, who is familiar with the situation in bilateral economic relations, told TASS on the condition of anonymity.
"A ban on gold imports will have practically no impact on trade with Russia, the economy and industry of our country. Japan practically does not buy this metal from the Russian Federation," he said.
"We can only talk about some impact on world gold prices," the expert noted.
"However, within the framework of the current sanctions against the Russian Federation, the markets in London and New York, where the main transactions with gold are made, have already practically banned operations with this metal from Russia. So, the impact of the current embargo on world prices will be limited," he added.
Speaking at the G7 summit, which is under way in Germany, Japanese Prime Minister Fumio Kishida announced the expansion of individual and trade restrictions against Russia in connection with the situation around Ukraine. Besides an additional freeze on the assets of 70 individuals and legal entities, the imposition of export sanctions against another 90 Russian organizations, the new package of Japanese restrictive measures also provides for a ban on the import of Russian gold. As previously reported, the United Kingdom, Canada and the United States will also join it.
Japan has already approved several sets of restrictions against Russia. They apply to more than 700 people from Russia, Belarus, the Donetsk and Lugansk People's Republics, and affect over 200 Russian and Belarusian companies and organizations. The list of goods and technologies prohibited for export to Russia included more than 400 items.