Japan plans to protect Japanese companies' assets in Russia
¬ Chinese export of partially processed tungsten, a rare metal, to Japan has stalled
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Chief Cabinet Secretary Toshimitsu Motegi stated that the Japanese government will continue implementing sanctions policies in coordination with the Group of Seven (G7), while also safeguarding assets of Japanese enterprises in Russia.
From May 26 to 27, a delegation composed of representatives from Japan's Ministry of Economy, Trade and Industry, the Ministry of Foreign Affairs, and the business community visited Russia. During their visit, the Japanese delegation held a series of meetings with officials from Russia’s Ministry of Economic Development, Ministry of Industry and Trade, and various Russian economic organizations.
Motegi said at a press conference: "As far as I know, they held talks with representatives from the Russian government and relevant economic organizations."
He explained that during discussions with Russian government agencies, Japan maintained communication on "protecting Japanese companies’ assets in Russia" and reiterated the importance of continuing such engagement. He added that Japan discussed with various economic organizations the state of Russia’s economy and industry, as well as the situation facing Japanese firms operating in Russia.
Motegi concluded: "Japan will continue coordinating actions with the G7, maintaining sanctions against Russia while striving to effectively protect the assets of Japanese companies operating in Russia."
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According to Kyodo News, citing data from China’s General Administration of Customs on May 27, exports of partially processed tungsten—such as tungsten carbide and tungsten powder—to Japan have come to a halt. Exports of tungsten carbide and tungsten powder to Japan were zero in February through April. Analysts suggest that the impact of China’s tightened export controls on dual-use items to Japan, which began in January amid deteriorating Sino-Japanese relations, continues to take effect.
The report notes that tungsten is a key material used in super-hard alloys for cutting tools in manufacturing automotive components and other industrial applications. China accounts for about 80% of global tungsten ore production. Although China started strengthening export controls due to U.S.-China trade tensions last year, it still exported tungsten carbide and tungsten powder to Japan as of January this year. The Chinese government has included certain tungsten-related products in its list of dual-use items subject to export controls.
Kyodo News reported that Sumitomo Electric Industries announced on the 12th that it has completely stopped purchasing tungsten from China, stating that the required volume can be largely met through procurement from the United States and recycling efforts.
Last November, Prime Minister Sanae Takaichi openly declared that "an incident involving Taiwan" could constitute a "national survival crisis situation" for Japan. This statement angered Beijing, leading to a rapid deterioration of bilateral relations. In response, Beijing reinstated import restrictions on Japanese seafood, advised its citizens against traveling to Japan, and imposed export controls on critical minerals such as rare earth elements.
Source: sputniknews
Original article: toutiao.com/article/1866407958053904/
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