Japan protests against Putin visit to disputed islands
It was the first time the Russian leader had visited the Kuril islands, according to state media. Japan said it "strongly protests" against Vladimir Putin's visit to the Kuril islands on Thursday, the first time the Russian president had visited the disputed island chain. Russian state media reported that Putin visited Iturup - known in Japan as Etorofu - one of four islands in the Kuril chain that are claimed by Russia and Japan. Japan's foreign minister Toshimitsu Motegi said the islands were "inherently Japanese territory both historically and under international law, and the Government of Japan strongly protests this visit". The countries have been locked in a dispute over the Kurils for decades, and it is the main reason Moscow and Tokyo did not sign a peace treaty after World War Two. The Kuril islands sit between Hokkaido in northern Japan and Russia's Kamchatka Peninsula.
Four of the southernmost islands are claimed by Japan, which calls them the Northern Territories. They are administered by Russia. At the end of World War Two, the Soviet Union annexed the island chain and deported around 17,000 Japanese residents. During his visit, Putin sampled fish roe and spoke to island locals, Russian state media reported. Over the years, attempts to resolve the territorial dispute have made little progress. Bilateral ties have also remained frosty, with Japan imposing sanctions against Russia for its invasion of Ukraine in 2022.
Japan has protested against previous visits by Russian officials to the disputed islands, including Russian Prime Minister Mikhail Mishustin and his predecessor Dmitry Medvedev. The Kuril islands are a strategic area for Russia, which has beefed up its military presence on the islands over the past decade. The island of Iturup is used as its primary military air base in the region. Last month, Chinese and Russian naval warships sailed through a strait in the Kuril islands during a joint patrol. Russia also holds regular military drills near the islands, drawing condemnation from Japan.
โก Effects Interpreter
๐World Economy
- โถMarkets around the world could take their cue from how this story unfolds.
- โถTrade and investment between countries could shift a little if things escalate.
๐๏ธLocal Economy
- โถEveryday costs in your town might drift as the wider economy reacts.
- โถSmall businesses nearby might tweak their prices in the weeks ahead.
๐ฆRates & Banks
- โถAny move in rates would probably come later, not overnight.
- โถInterest rates and mortgage bills are unlikely to jump straight away from this alone.
โค๏ธHealth
- โถUnsettling news can weigh on sleep and mood, so peace of mind matters.
- โถNeighbours and families may feel more anxious until the dust settles.
๐ทWealth
- โถLong-term savers usually ride out these small bumps just fine.
- โถAny hit to your money is more likely a ripple than a wave.
๐ Housing
- โถMortgage deals could edge around if lenders read the wider mood.
- โถBuyers and renters may notice only a gentle drift, if anything at all.