The United States and the United Kingdom have announced new measures to enforce a self-certification requirement for importers of polished diamonds weighing 1 carat and above. The aim is to ensure that these diamonds are not of Russian origin.
The UK will also require documentary evidence in certain cases. These measures come in response to recent directives from the US Office of Foreign Assets Control (OFAC) aimed at tightening restrictions on loose Russian diamonds, addressing a loophole that has existed since March 2022.
Starting March 1, US Customs and Border Protection will mandate importers to submit a PDF on official company letterhead, while the UK government’s Department for Business and Trade will require compliance documentation, including Kimberley Process certificates or origin reports.
These rules will be in effect during a “sunrise period” until August 31 and are expected to expand across G7 nations and the EU, increasing scrutiny on diamond imports. Industry groups like the London Diamond Bourse have expressed concerns about the lack of clarity surrounding the new guidelines and are urging exporters to proceed with caution.
Meanwhile, India’s Gem and Jewellery Export Promotion Council is advising its members to carefully review the guidelines and maintain meticulous records to navigate the evolving regulations.
