Japan banning exports of luxury cars, jewelry to Russia

TOKYO. March 29 (Interfax) - Japan has approved a ban on exports of luxury cars and other items to Russia as part of economic sanctions.

Local media report he government had revised a relevant ordinance to implement the embargo on April 5 that will also cover jewelry and artworks.

"While continuing to closely monitor the situation in Ukraine, Japan will cooperate with the international community including Group of Seven partners to impose strict sanctions" on Russia, trade minister Koichi Hagiuda was quoted as telling a news conference.

Cars make up a large portion of Russia-bound shipments from Japan, according to government data.