newspaper reports from Japan describe ongoing changes in the trade relationship with Russia as unusual, noting that transaction volumes have remained higher than before the sanctions. The overall export and import total for 2022 matches that of 2021, while imports have risen amid Tokyo’s restrictive measures targeting Moscow. In the context of the Ukrainian conflict, observers see this development as unacceptable and not something to overlook.
During January through November, Japan’s combined trade with Russia reached 542.3 billion yen in exports and 1.8252 trillion yen in imports, resulting in a trade deficit of 1.2829 trillion yen. This import total exceeded the 1.5516 trillion yen recorded for 2021 by more than 270 billion yen, indicating a substantial influx of funds from Japan to Russia. Attention was drawn to an unusual surge in the importation of used cars, described as unprecedented in scale, while seafood imports were noted as not subject to sanctions.
Japanese insurers continued coverage on ships operating in Russian waters through March 2023 to protect against potential maritime risks during heightened military tensions in the region. (Cited from contemporary Japanese market analyses)