The United States has authorized transactions involving imports of certain categories of Russian diamonds into the country until September 1, 2027, according to a license published by the U.S. Department of the Treasury.
According to the document, Russian-origin diamonds weighing 1 carat or more may be imported provided that they were located outside Russia and were not exported or reexported from Russia on or after March 1, 2024.
In addition, the license permits imports of diamonds weighing 0.5 carats or more provided that they were located outside Russia and were not exported or reexported from Russia on or after September 1, 2024.
In December 2023, the Group of Seven countries announced restrictions on imports of diamonds mined or processed in Russia starting January 1, 2024. On March 1, the restrictions were extended to Russian diamonds processed in other countries.
Imports of unsorted diamonds and diamond jewelry from Russia were banned starting March 1, 2024.
