Since August 9, Japan has banned the export of most cars to Russia – the country’s government noting that it supports similar bans in other major countries. This decision had serious consequences for Japanese business; the annual turnover of the market for the supply of used cars to Russia was estimated at approximately $2,000,000,000.

According to Reuters, Japanese companies involved in the foreign supply of cars previously sold several thousand cars per month to Russia. Now their turnover has fallen by up to 70%, which has already led to a sharp drop in income and massive layoffs.

The Japanese government said it is monitoring the situation and is discussing introducing subsidies for the affected industry. But lifting the ban on car exports to Russia is not discussed. In any case, this will certainly not happen in the near future.

Since August 9, Japan has banned the export of most cars to Russia – the country’s government noting that it supports similar bans in other major countries. This decision had serious consequences for Japanese business; the annual turnover of the market for the supply of used cars to Russia was estimated at approximately $2,000,000,000.

According to Reuters, Japanese companies involved in the foreign supply of cars previously sold several thousand cars per month to Russia. Now their turnover has fallen by up to 70%, which has already led to a sharp drop in income and massive layoffs.

The Japanese government said it is monitoring the situation and is discussing introducing subsidies for the affected industry. But lifting the ban on car exports to Russia is not discussed. In any case, this will certainly not happen in the near future.