Japan as a loyal little brother of the United States, in many international affairs are consistent with the United States position, the recent Russian-Ukrainian war is located in Europe, but the Japanese government in order to show loyalty to the United States, still announced the imposition of sanctions on Russia, but Japan's action not only did not bring much harm to Russia, but also caused adverse effects on the domestic economy, and even a number of Japanese power companies have applied for bankruptcy to the relevant departments.
Japan's economy has been at a low level for a long time since the bursting of the economic bubble, and now it is facing huge growth pressures because of the new crown epidemic, which is aggravated by Japan's economic sanctions against Russia, and the unoppositive economic situation is by no means a good thing for Japanese Prime Minister Fumio Kishida, who has recently taken office.
Japan insists on sanctioning Russia
Japan is an island country, resources are very scarce, most of the energy is imported from other countries, Russia as an energy export country and Japan also have relevant cooperation, but obviously, the importance of the two countries to each other is not a level at all, Japan's demand for energy for Russia is only the icing on the cake, and Russian energy is extremely dependent on Japan. Now Japan's insistence on following the United States in sanctioning Russia will undoubtedly cause Japan to suffer even greater losses.
In order to gain the favor of the United States, Japan not only sanctions Russia in the energy field, but also recently announced the cessation of exports of luxury goods to Russia, such as luxury cars and jewelry, etc., but such sanctions on the Russian economy is very limited, but will make Japan's domestic related enterprises lose the Russian market, after all, these luxury goods are not necessities, will not affect the basic life of the Russian people, but the income of Japanese companies will inevitably be affected, which makes the Japanese economy that is not optimistic.
A number of Japanese companies declared bankruptcy
According to data from Japanese research institutes, 14 japanese power companies have declared bankruptcy this year. It is reported that these companies in Japan are known as the "new force" of electricity, the main feature is that these enterprises only have the right to sell electricity, but there is no production plant, so they rely heavily on the price difference to obtain revenue, but the Russian-Ukrainian war led to rising global energy prices, the income of these enterprises is naturally seriously affected, and some are overwhelmed and can only declare bankruptcy.
This year, the price of electricity supply in Japan has soared to nearly three times the average price of electricity in the previous five years, which has greatly increased the wholesale cost of many power companies and greatly compressed profit margins. The Japanese government's sanctions against Russia have aggravated this situation, and it can be said that the Japanese side has taken matters into its own hands.
Some sources: Reference News Network, Upstream News