Japan to Revoke ‘Most-Favored Nation’ Trade Status for Russia
- Kishida calls Russia’s invasion of Ukraine ‘an inhumane act’
- Prime minister to take action if price hikes overburden people
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Japan will revoke the “most-favored nation” trade status for Russia, stripping it of basic World Trade Organization rights and adding to the punishments Tokyo has imposed on Moscow for its invasion of Ukraine.
Russia’s aggression is “an inhumane act that should be engraved in history,” Prime Minister Fumio Kishida told a news conference Wednesday. He said Japan would freeze the assets of more Russian oligarchs and set up a system to accept refugees from Ukraine, with local governments already volunteering to help.