A cargo ship is loading cars at a port in Toyama Prefecture, Sea of Japan, August 17, 2022
Japan's total used car exports to Russia hit a record high since January 2009, data released by the Japanese government showed.
Japan exported about 17,000 used cars to Russia in June, accounting for almost half of its total exports to Russia, according to trade data from Japan's Ministry of Finance. Exports reached 19 billion yen, more than 3.5 times that of March.
Kyodo News reported that the Japanese government announced that it will ban the export of luxury goods such as cars worth more than 6 million yen to Russia from April 5, thus opening up the used car market. As long as the price of Japanese cars is less than 6 million yen, exports to Russia can be exempted from the sanctions.
