The US ban on the import of Russian diamonds from 1 carat came into force

On March 1, the US ban on the import of Russian-made diamonds weighing more than 1 carat came into force .

The US Treasury announced on February 8 that such a ban would be introduced . The document, signed by Deputy DIRECTOR of the Office of Foreign Assets Control Lisa Pallukoni, said that this applies to gemstones that “were mined, extracted, produced or manufactured in whole or in part on the territory of the Russian Federation.”

In addition, from March 1, a ban will be imposed on the import of jewelry with diamonds of Russian origin into the United States - both those produced in RUSSIA and those simply exported through it. The US ban on the import of Russian diamonds over 0.5 carats will come into force in September.

Washington limited imports of diamonds from Russia in March 2022. In December 2023, the G7 countries announced a ban on the import of non-industrial natural diamonds, artificial diamonds and jewelry containing diamonds from Russia. It came into force on January 1. From March 1, the G7 will also stop importing Russian diamonds processed in third countries.

On February 11, diamond producers De Beers and Okavango Diamond approached the G7 countries with a proposal to reconsider sanctions against Russia in the mining of these minerals. The companies warned that if sanctions pressure expands on the country, which occupies more than a third of the diamond market, the cost of stones from Africa will increase significantly. The company associated the latter with the fact that African producers will have to send all produced diamonds to a single inspection point.

In December, Western sanctions against the Russian diamond industry were commented on by presidential press secretary Dmitry Peskov . Then he said that Moscow was preparing for similar measures and planned to develop bypass mechanisms.

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