On 1 March 2024, various countries expanded their restrictions on the import of Russian diamonds pursuant to the G7 statement last year (EU, UK, US, Japan, Canada, Switzerland).
The EU has updated its FAQs to explain the traceability-based verification and certification mechanism for rough diamonds, evidential requirements on importers, the link with the Kimberley Process certification, and the optional certification mechanism between 1 March 2024 and 31 August 2024.
The US has updated its FAQs to explain that the Diamond Jewelry Determination prohibits the import of diamond jewellery and unsorted diamonds of Russian origin and diamond jewellery and unsorted diamonds that were exported from Russia.
For example, it prohibits the import of a diamond bracelet that has been manufactured in the Russian Federation, regardless of where the diamonds originated.