Kishida announces sanctions against Russia

Japanese Prime Minister Fumio Kishida announced a set of sanctions targeting Russia and two separatist Ukrainian regions Wednesday.

The regions in Ukraine were recently recognized as independent by Russian President Vladimir Putin. The sanctions come as part of international efforts to pressure Russia into finding a diplomatic solution to the situation with Ukraine. Kishida told reporters that Tokyo will ban new "issuance and distribution of new sovereign bonds in Japan by the Russian government.""We urge Russia to return to its efforts to overcome the situation through the diplomatic process," he added. Kishida also said Japan will suspend visa issuance to people linked to the regions and freeze their assets in Japan, and ban trade with the two areas. While expecting soaring crude oil prices, Kishida said the government will work together to ensure "that the impact on people's lives and corporate activities can be minimized."