Western anti-Russia sanctions could cost Japanese business $10bn


Follow The Money

2.si

http://rt.com/business/256029-japan-russia-business-sanctions/

The cost to Japanese business of sanctions imposed against Russia by Western countries could be $10 billion according to the Russian Trade Mission in Japan. Trade between Moscow and Tokyo was almost $30.4 billion in 2014.

“In the medium term we can talk about up to $10 billion. This is a very substantial damage,” Sergey Egorov, the Trade Representative of the Russian Federation in Japan told RIA Novosti on Wednesday.

Japan imported $22.2 billion worth of good from Russia last year while exports to Russia were $8.2 billion. In 2013 Russian-Japanese trade amounted to $34.8 billion.

“Basically, the decline was due to the depreciation of the ruble. This caused a damage of several billion dollars for the Japanese economy. Secondly, the reduction of Japanese exports to Russia happened because of tighter restrictions in state regulation of trade in high-tech production,” Egorov added.

Imports of Japanese cars and industrial machinery…

View original post 108 more words

Advertisements