Japan will transfer 4 billion to Russia bypassing the sanctions

Sunday, 23 October, 2016 - 14:15

Japan will give a credit of 4 billion yen (about 40 million dollars) to the Sberbank of Russia for financing the modernization of the Vostochny port in Nakhodka.
This port of the federal significance, also a part of the largest Russian commercial and loading center in the Pacific region, is scheduled to be seriously modified to increase the transportation of coal from the current 21 tons to 39.

It has become especially actual because many countries ratify the Paris Agreement ( signed 22 April 2016), according to which China, Japan and several other countries have to seriously restrict the import of coal from Indonesia and go over to better fuel provided by Moscow.

Moreover, this foreign investment for Japan is the largest one in recent years. In addition to it, this credit is the only one provided directly by the government, without the participation of the private Japanese financial companies.

This situation has happened, because Tokyo is forced to maintain sanctions against the Sberbank of Russia. Probably Japan wants to protect its companies from fines imposed by Washington. Besides, the Japanese side declares that the remittance of money not in US dollars, and yen let evade sanctions.

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