TOKYO (Reuters) – Japan will coordinate with the Group of Seven (G7) advanced economies in dealing with the Ukraine situation, while carefully watching how it could affect its economy, Finance Minister Shunichi Suzuki said on Tuesday.

Suzuki also told reporters after a cabinet meeting that he would closely watch any impact from rising interest rates in western countries on Japan’s economy.

Japan will likely join U.S.-led sanctions on Russia, including a ban on chip and other key technology exports, the Yomiuri newspaper reported on Tuesday.

(Reporting by Tetsushi Kajimoto; Editing by Tom Hogue)