Japan to halt luxury car shipments to Russia

Japan will stop exporting luxury cars to Russia effective April 5 as part of its economic sanctions in response to its invasion of Ukraine.

Under the measure, cars priced at over $49,200 when they pass through customs are prohibited from being exported to Russia.

Since the ban is targeting Russian oligarchs who have rapidly accumulated wealth since the fall of the Soviet Union, the impact on Russia's economy is expected to be limited.

While 40 percent of the value of exports from Japan to Russia comes from cars, their prices mostly don’t exceed 6 million yen and are not affected by the new sanctions.

The Japanese government also announced that it will ban exports of other luxury goods, such as high-end watches priced at more than 40,000 yen, liquor, and cigarettes, to Russia.