Japan has extended its sanctions regime by banning the import of non-industrial diamonds from Russia effective January 1, 2024. The announcement came from Japan’s Ministry of Economy, Trade and Industry (METI), signaling a tighter stance on diamond trade linked to Russia. This prohibition targets ungraded diamonds, rough diamonds, and stones cut or faceted for non-industrial purposes, effectively curtailing a portion of the Russian diamond supply chain entering the Japanese market. (Source: METI)
The broader package of measures also includes asset freezes and export restrictions aimed at several dozen companies connected to Russia, the United Arab Emirates, Armenia, and Belarus. The scope covers entities involved in industrial production, aerospace, defense, shipbuilding, and research. Among the named facilities are the Ural Civil Aviation Plant, Ulan-Ude Aviation Plant, Khabarovsk Shipyard, Vostochnaya Shipyard, and the VA Plant, alongside research and development centers such as the Research and Production Center of Automation and Instrumentation named after Degtyarev and the Taganrog Priboy Plant, plus NPK Tekhmash and Academician NA. Pilyuginа et al. The government has not yet published a comprehensive list of individuals and organizations whose assets may be frozen in cases of enforcement. (Source: METI, UK Foreign, Commonwealth & Development Office)
This move follows a prior signal from the British Foreign Office noting a ban on Russian diamond imports that took effect on January 1. The coordination across major economies illustrates a growing pattern of sanctions designed to constrain Russian material flows, including high-value industrial goods and related services. (Source: UK FCDO)
In the European Union, discussions on further sanctions packages have continued, with Austria recently indicating the unblock of elements within the 12th sanctions package against the Russian Federation. While these developments span multiple jurisdictions, the impact for buyers, traders, and manufacturers in North America remains notable. Canadian and American businesses dealing with diamonds or related tech and industrial equipment should monitor official releases and bilateral trade advisories as policies evolve. The overall effect is a reinforced policy environment that simultaneously shapes supply chains and risk management strategies for global diamond markets. (Source: EU statements, national advisories)
Industry observers in Canada and the United States are watching how these sanctions interact with trade norms and certification schemes for diamonds, including efforts to verify origin and compliance with international embargoes. Businesses should conduct thorough due diligence to avoid inadvertent violations, maintain transparent record-keeping, and align sourcing with recognized sanctions lists. The evolving landscape also presents potential shifts in pricing, inventory planning, and supplier relationships as markets adapt to tighter controls on Russian diamond inputs. (Source: trade compliance guidance)