2024-08-24 12:28:51
The US government has allowed the import of certain categories of diamonds from Russia until September 1, 2025. This is stated in a general license update on the official page of the US Treasury Department.
In addition, the US issued a general license allowing the import of diamond jewelry into the country if it was located outside of Russia before March 1, 2024 and was not exported or re-exported from the country after that period.
In February of this year, the US authorities announced that from March 1 they would ban the import of unsorted (roughly processed) diamonds and diamond jewelry from Russia. They also banned the import of non-industrial diamonds from Russia weighing 1 carat or more from the same date, and diamonds weighing 0.5 carats or more from September 1, regardless of whether they were processed in third countries, BTA reported.
Diamond exports from Russia fell 12 percent to 32.4 million carats last year, according to the Kimberley Process (KPCS).
According to an international organization under the auspices of the United Nations, Russia will realize 33 percent of the world’s diamond production in 2023, followed by Botswana with 23 percent, Canada with 14 percent, Angola with 9 percent and the Republic of Congo with 8 per hundred.
At the same time, the largest exporter last year, according to the Kimberley Process, was the United Arab Emirates (with a share of 30 percent), the European Union (17 percent) and Russia (11 percent).