Editor’s Note
This article outlines Japan’s new regulatory measures to enforce sanctions on Russian diamonds, including those processed in third countries. The guidelines aim to help importers navigate compliance while maintaining supply chain integrity.
The Ministry of Economy, Trade and Industry (METI) has formulated a draft guideline for importers in response to the government’s decision to ban imports of Russian diamonds processed in third countries as part of sanctions against Russia’s invasion of Ukraine. METI will solicit public comments until April 8, reflect them, and then formally establish the guidelines to urge businesses to take measures.
The draft guideline outlines “voluntary efforts” for importers, including: ① Establishment of a Management System through appointing a supervisor for due diligence to select suppliers, formulate procurement standards and policies, identify, prevent, and mitigate supply chain risks, and disclose information. ② Submission of a Self-Declaration to METI affirming compliance with the guideline’s content and the acquisition/retention of documentation proving the country of origin. ③ Appropriate Verification of Suppliers, such as urging suppliers to confirm and maintain records regarding the country of origin. ④ Submission of Documents to METI upon request.