World Economy

Japan Firms Hostages of US Sanctions

Japan Firms Hostages of  US SanctionsJapan Firms Hostages of  US Sanctions

Japanese businesses operating in the United States have become hostages of Washington’s sanctions against Russia, according to the Japan Bank for International Cooperation. “Many Japanese banks maintain extensive business operations in the United States. In the context of sanctions (against Russia) Washington can impose restrictions on any transactions by these banks,” JBIC Senior Managing Director Tadashi Maeda said in an interview to TASS on Thursday at the first Eastern Economic Forum in Vladivostok. “For instance, the sanction list includes Rosneft. If you do business with Rosneft in the United States, this may be a reason for sanctions on Japanese businesses,” he said. “One can say that Japanese companies in the United States are hostages of US sanctions,” Maeda added. “The newly-emerged threat is the negative effect of sanctions, in particular, those by the United States,” said Maeda, “we are unable to use the dollar in granting credit lines. We can use only the yen, and this entails technical problems.”