Japan, as one of the G7 nations, will join the ban on importing of non-industrial diamonds from Russia.
But the move is more symbolic than anything, given that total imports amounted to under $400,000 in 2022.
The Japanese government announced the diamond sanctions as part of new round of sanctions being implemented in view of what it described as “the current international situation over Ukraine, and for the purpose of contributing to the international efforts for achieving international peace”.
Japan’s total imports of polished diamonds in 2022 were just $544m. For context the US imported almost $25bn.
Japan, which hosted the G7 summit in Hiroshima in May, has pledged “unwavering solidarity” with Ukraine in a part of the world where many governments have failed to take a stand.
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