Editor’s Note
This article details Japan’s latest sanctions against Russia, aligning with G7 efforts to close loopholes in diamond import restrictions.
The Japanese government approved a cabinet decision on March 1 to ban imports of non-industrial diamonds of Russian origin that are processed in third countries. This move aligns with the two-year mark since the start of the invasion of Ukraine. Prime Minister Fumio Kishida had announced plans for additional sanctions against Russia during an online G7 summit held on February 24.
The ban targets items such as jewelry. Imports of diamonds processed in Russia were already prohibited. The aim is to deal a blow to the diamond trade and reduce Russia’s war funds.
Asset freezes will also be implemented against 12 individuals and 8 organizations related to the Russian government, requiring permits for payments and other transactions, as well as for contracts involving deposits, trusts, and monetary loans. Exports to 29 organizations, including the automatic rifle manufacturer “Kalashnikov Concern,” and exports of goods that could contribute to strengthening Russia’s industrial base are also prohibited.
