According to the official Russian media cited report from the US Department of the Treasury. The United States has extended permission for the import of select categories of Russian diamonds until September 1, 2026, under a license issued by the US Department of the Treasury.
According to the updated license terms, imports are allowed under the following conditions,
1: Diamonds of 1 carat and above may be imported if they were physically located outside Russia and not exported or re-exported from Russia after March 1, 2024.
2: Diamonds of 0.5 carats and above may be imported if they were outside Russia and not exported or re-exported from Russia after September 1, 2024.
3: This extension marks a continuation of earlier allowances granted in August 2024, when US authorities permitted limited imports of Russian-origin diamonds subject to specific cut-off dates.
The move follows the broader framework of G7-led restrictions introduced in December 2023, aimed at curbing the trade of Russian-mined and processed diamonds. The G7 measures came into effect on January 1, 2024, and were expanded from March 1 to include Russian diamonds that had undergone processing in third countries.
As part of enforcement, the G7 committed to establishing a verification and certification mechanism for rough diamonds by September 2024. In parallel, the US had already banned imports of unsorted Russian diamonds, diamond jewelry, and non-industrial stones meeting the same carat thresholds, effective March 2024.
The latest license offers the trade a temporary but clearly defined import window, while maintaining alignment with the G7’s long-term strategy to restrict the flow of Russian-origin diamonds into key consumer markets.
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Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
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