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Ukraine war

Corporate Japan gauges Russia risk as sanctions deepen

Removal of Russian banks from SWIFT affects trading houses, carmakers, LNG

A tanker loads liquefied natural gas from the Sakhalin-2 project in Russia. LNG is Japan's biggest import from Russia.   © AP

TOKYO -- As Japan joins the U.S. and the European Union in blocking Russian banks from international financial networks, Japanese companies are assessing whether their operations in Russia can be maintained amid the economic fallout.

Since Monday morning, a Japanese trading house has been checking direct deposit accounts used to pay employees working in Russia. As of now, the payments appear unlikely be impacted by the sanctions since they are wired to accounts created at a U.S. bank, the company said.

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