Japan will ban the supply of precious metals to Russia, especially gold, the Finance Ministry said, Reuters reports.

The ban on the import of precious metals into Russia reflects the determination of Prime Minister Fumio Kishida to impose additional sanctions against the country, promised last week at a meeting of leaders of the G7 (G7).

From April 5, Japan will ban the export of precious metals such as gold, as well as other items including luxury cars, jewelry, cosmetics and liquor.

Japan's action came after the United States and the UK took steps to reduce gold transactions in Russia.

Gold exports to Russia will require prior approval from Japan's finance minister as the new rule comes into effect April 5, government officials said.

The latest ban comes in addition to restricting the export of high-tech goods to Russia, including semiconductors, censors and communications equipment.

Japan has also frozen the assets of more than 100 Russian individuals and entities and is considering extending financial regulation to Japanese cryptocurrency exchanges.