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Giant Japanese banks lose more than two billion dollars due to sanctions imposed on Russia

2022-05-17T09:38:29.590Z

Tokyo, SANA- Japanese media revealed that the largest Japanese banking groups lost more than 2.71 billion dollars



Tokyo-Sana

Japanese media revealed that the largest Japanese banking groups lost more than 2.71 billion dollars in the fiscal year 2021 that ended on the 31st of last March due to the sanctions imposed on Russia.

The Japanese channel “NHK” reported that the largest Japanese banking groups “Mitsubishi UFG”, “Sumitomo Mitsui” and “Mizuho” incurred these losses, as the losses of Sumitomo Mitsui are estimated at about 100 billion yen, equivalent to 773.7 million dollars, while losses amounted to “. Mitsubishi UFG” 140 billion yen, equivalent to 1.08 billion dollars, and “Mizuho” 116.1 billion yen, equivalent to 898.3 million dollars.

The bulk of these losses are due to the impossibility of repaying loans issued to them from clients under the sanctions against Russia.

It is noteworthy that Japan has imposed several packages of sanctions against Russia, excluding it from the trade system of the most favored country and preventing the export of about 300 goods to it, in addition to imposing sanctions on hundreds of people and companies from Russia and the popular republics of Lugansk and Donetsk, including major Russian banks.

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Source: sena

All business articles on 2022-05-17

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