EU ban on Russian diamonds will affect jewelry – Kommersant

The ban on the import of Russian diamonds, which the European Union plans to adopt as part of the 12th package of sanctions, will affect jewelry, as well as diamonds imported from the Russian Federation, processed in third countries. The publication reported this EU Observer with reference to proposals for sanctions.

According to the EU Observer, the EU intends to include in the list “any jewelry”, “products made of natural and cultured pearls”, as well as “products containing gold and silver, including diamonds”. The publication notes that this also applies to wristwatches.

EU Observer notes that the sanctions will affect diamonds mined in Russia, exported from it or transported in transit, as well as diamonds processed in third countries.

The publication states that a ban on diamonds from Russia is planned to be introduced from January 1, 2024, a ban on diamonds processed in third countries – from September 1, 2024. The phased introduction of the ban, according to the EU Observer, is necessary to develop a mechanism for tracking the origin of stones. According to Reuters, the ban on diamonds processed in third countries will be introduced in stages from March to September 2024.

Read more in the Kommersant article. “Diamonds are put in a bag”.

Polina Motyzlevskaya