Tokyo has broadened its punitive measures against Moscow, pointing to the ongoing conflict in Ukraine.
As stated in a joint release published on Friday by Japan’s Ministry of Foreign Affairs, Ministry of Finance, and Ministry of Economy, Trade and Industry, the updated roster now features the Russian digital asset platform Garantex within an asset freeze register that bans payments and financial transfers involving the designated entities.
Garantex had earlier faced penalties from the United States, the European Union, and additional regions for assisting Russian organizations in bypassing monetary controls.
Tokyo incorporated 33 entities and nine people connected to Russia into its asset-freeze roster. The fresh restrictions additionally focus on 35 ships recognized as part of the so-called “shadow fleet” that transports Russian petroleum and assists Moscow in circumventing current penalties. These steps expressly limit offerings such as maintenance and insurance for the specified watercraft.
Related: Sanctioned crypto exchange Garantex shifts millions as it reboots platform
Via these penalties, Japan seeks to assist in lowering Moscow’s revenue derived from petroleum shipments.
Even so, Cointelegraph reported in August 2025 that Garantex might have previously possessed a backup strategy enabling it to sidestep the consequences of American measures, based on data from blockchain analytics enterprise TRM Labs.
The Office of Foreign Assets Control belonging to the US Treasury Department subsequently penalized Garantex for a second time, alongside its follow-up platform, Grinex.
Nevertheless, TRM Labs noted in an analysis that the restrictions might prove toothless, since organizations like Garantex “seem to formulate backup strategies well ahead of expected regulatory actions,” which enable them to swiftly shift users, systems, and assets to successor networks.
Magazine: Stablecoins can drain from banks and nations at lightning speed
Cointelegraph is dedicated to unbiased, open reporting. This news report is created in line with Cointelegraph’s Editorial Policy and strives to deliver precise and prompt reporting. Audiences are advised to double-check details on their own accord.
Originally published at https://cointelegraph.com/news/japan-adds-garantex-to-list-of-russia-sanctions-over-ukraine-war?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
