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…
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