Japan has imposed restrictions on the trade of used cars.

Tokyo: Despite a high demand for Japanese cars in Russia, Japan has imposed restrictions on the import of used cars from Russia.

According to a report from an international news agency, Japan has imposed restrictions on the import of used cars from Russia amid the ongoing conflict between Ukraine and Russia.

Trade statistics from Japan indicate that Japan’s move to restrict imports of used cars from Russia has put a dent in the annual $2 billion trade, which had been increasing due to restrictions on Ukraine.

In early August last year, the Japanese government had imposed restrictions on all imports from Russia, except for compact cars, resulting in a loss of export revenue for used Toyota, Honda, and Nissan cars sent through small ports.

Restrictions on the import of used cars from Russia have also lowered prices of second-hand cars in Japan, and brokers on the left-hand side are still struggling to send these cars to other countries, especially markets in New Zealand, Southeast Asia, and Africa.

It should be noted that after the attack on Ukraine by Moscow last year, there was a rapid increase in the demand for used cars from Japan, following the closure of plants in Russia by global car manufacturers like Toyota.

Trade figures indicate that before Japan imposed its stringent restrictions, this trade had already reached up to $1.9 billion for the entire year of 2023.