Japan approved Tuesday a ban on exports of luxury cars and other items to Russia as part of economic sanctions over its invasion of Ukraine.

The Cabinet of Prime Minister Fumio Kishida revised a relevant ordinance to implement the embargo on April 5 that will also cover jewelry and artworks.

The move is aimed at adding pressure on oligarchs who have been supporting Russian President Vladimir Putin financially. The United States and European Union member countries have already taken similar measures.

Japanese Economy, Trade and Industry Minister Koichi Hagiuda speaks to reporters after a Cabinet meeting on March 29, 2022, at the parliament in Tokyo. (Kyodo)

"We will work with the international community, including the Group of Seven nations, to implement tough sanctions," Koichi Hagiuda, minister of economy, trade and industry, said at a press conference.

Cars make up a large portion of Russia-bound shipments from Japan that totaled 627.8 billion yen ($5 billion) in 2020, according to government data.

Japan imposed a similar ban on luxury goods exports to North Korea in 2006 after Pyongyang announced it had conducted a nuclear test. Japan has since totally banned imports from and exports to the country.

Russia's aggression against Ukraine has already been met with a slew of sanctions, including a freeze on the Russian central bank's assets, banning key Russian financial institutions from a major international payment system, and imposing export bans and controls.

Joining the United States and European countries, Japan has also decided to strip Russia of its "most favored nation" status, which has given Moscow the best possible trade terms on key products under World Trade Organization rules.

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