As Russia’s invasion of Ukraine enters its second year, the United States is looking to tighten its regulations on Russian diamonds—and eliminate the rule that allows the importation of Russian-mined diamonds cut and polished elsewhere.
Belgian officials who spoke with Politico last week said that the European Union and United States hope to develop a “‘watertight’ traceability system” for diamonds as a way to limit Russian gems.
But people who have spoken with U.S. and EU officials believe they are seeking a traceability requirement, where the onus would be on importers to prove their diamonds didn’t come from a Russian mine.
If enacted, it would mean that U.S. companies could only import diamonds if they have proof of their non-Russian origin. “The Belgium government has suggested an international traceability requirement,” says Tom Neys, spokesperson for Antwerp World Diamond Centre, the Belgium industry group.
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