Editor’s Note
This article details Japan’s latest sanctions against Russia, expanding an existing ban to now prohibit imports of Russian non-industrial diamonds via third countries. The move aims to close a significant loophole and further tighten economic pressure.
The Japanese government, on the 1st, approved additional sanctions against Russia concerning its invasion of Ukraine at a cabinet meeting, introducing for the first time a measure to ban imports of non-industrial diamonds of Russian origin via third countries. While the government had already banned direct imports of Russian diamonds in December last year, it has now expanded the scope to include imports via third countries, thereby tightening the regulations.
Under the additional sanctions, eight entities including Russian banks and twelve individuals have been designated for asset freezes and other measures, while twenty-nine entities, including military-related companies, have been designated for export bans. Those subject to asset freezes include the Russian company “Atomflot,” which operates nuclear-powered icebreakers, and the Prime Minister of the Chechen Republic in southern Russia. Export ban measures have been applied to entities such as the Russian company “Kalashnikov Concern,” which manufactures automatic rifles.
This move represents a significant escalation in Japan’s economic pressure on Russia, aligning with broader international efforts to close loopholes in the diamond trade that have allowed Russian diamonds to enter global markets indirectly. The focus on non-industrial diamonds targets the lucrative gemstone sector, which is a major source of revenue for Russia.