US Treasury Extends Authorization for Certain Russian Diamond Imports

WASHINGTON, August 27. /TASS/. 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 US 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.

In February 2024, US authorities announced that imports of unsorted diamonds and diamond jewelry from Russia would be banned starting March 1. They also prohibited imports into the United States of non-industrial diamonds from Russia weighing 1 carat or more starting March 1, 2024, and those weighing 0.5 carats or more starting September 1, 2024, regardless of whether they had been processed in third countries. In August of that year, US authorities authorized imports of certain categories of Russian diamonds until September 1, 2025. The license was later extended for another year.