While Washington urges Tokyo to cut Russian gas
Japanese Finance Minister Katsunobu Kato urged a coordinated response from G7 countries on Thursday against China’s new export restrictions on rare earth technologies, calling the measure “a cause of deep concern” for Tokyo. “Japan is deeply concerned about the broad scope of the export restrictions announced by Beijing last week. The G7 must show unity in addressing this issue,” Kato told reporters in Washington, where he is attending the fall meetings of the International Monetary Fund and the World Bank. Beijing announced on October 9 new restrictions on the export of technologies and products related to rare earths – strategic minerals used in the production of magnets essential for the automotive, electronics and defense sectors. Rare earths are also at the center of prolonged trade tensions between China and the United States. In the same meeting, US Treasury Secretary Scott Bessent asked Japan to stop importing energy resources from Russia, underlining the Trump administration’s intention to increase pressure on allies to help reduce Moscow’s economic ability to finance the war in Ukraine.
