Japanese  Prime Minister Fumio Kishida announced on Friday that they will ban imports of certain Russian products, including coal, as reported by Reuters.

Kishida further noted that they will also ban fresh investments in Russia and freeze the assets of Russia's Sberbank and Alfa Bank.

Market reaction

The market mood remains relatively upbeat following this development. As of writing, the S&P Futures were up 0.25% on a daily basis. Meanwhile, the USD/JPY pair was trading at 124.10, where it was up 0.15% on the day.