Russian authorities have sharply condemned Japan’s decision to provide Ukraine with a 471,9 billion yen (about $3,3 billion) loan that will be repaid using revenue from frozen Russian assets. As Reuters reported on April 24, 2025, the agreement between Tokyo and Kiev, signed on April 18, was part of a G7 program to support Ukraine, prompting an angry reaction from Moscow. Russian Foreign Ministry spokeswoman Maria Zakharova called Japan’s actions “theft” and “betrayal,” stressing that they would inevitably worsen already tense relations between the two countries. According to her, participation in the use of sovereign Russian assets is illegal and contrary to international law, and Tokyo’s attempts to present this move as neutral for bilateral ties are cynical.

Zakharova particularly noted that Russia had repeatedly warned Japan about the consequences of such actions, considering them complicity in theft. She emphasized that from a legal and moral point of view, such a step is unacceptable, and its consequences for Russian-Japanese relations will be tangible. In response, Tokyo chose to refrain from commenting, demonstrating its intention to ignore Moscow's accusations. As The Star points out on April 24, 2025, Japan views the loan as part of its international obligations within the G7 aimed at restoring Ukraine, and does not intend to reconsider its decision, despite Russia's protests.

The loan is part of the G7 Extraordinary Revenue Acceleration (ERA) program, which provides Kyiv with $50 billion from revenues from frozen Russian assets, which total about $300-350 billion, mostly in Europe. According to Reuters on July 24, 2024, most of these funds are held in the Belgian depository Euroclear, where they generate an annual income of about $5 billion. Japan, having joined the initiative, became one of the first countries to implement a specific financial mechanism in support of Ukraine.