Sanction weakening: US allowed import of some diamonds of Russian origin

This is evidenced by the document for the control of foreign assets (OCA) of the US Treasury. According to the document, diamonds can be imported to the United States if they were physically outside Russia until imported and were not exported or re -exported from the Russian Federation after established dates. It is a non-fair diamond weighing from 1 carats that have not been exported or re-export from March 1, 2024, and a diamond from 0. 5 carat-from September 1, 2024.

The Ministry of Finance has specified that the license does not apply to other prohibited operations provided by the regulations of sanctions against Russia (31 CFR, part 587), in particular to transactions with persons under sanctions, if not allowed separately. We will remind, the ban on the trade of Russian diamonds was approved after December 6, 2023, when US President Joe Biden and the leaders of the country of the Seven Group (G7) Virtually met with President of Ukraine Vladimir Zelensky.

As a sign of solidarity and support of Ukraine, they agreed to introduce a new ban on Russian business, including diamond. As a result, the G7 countries have agreed to limit the import of non -profit Russian diamonds by January 2024, including the introduction of a reliable certification system for untreated diamonds by September 2024. In March 2024, Canada and its partners on G7 introduced additional restrictions on imports of Russian diamonds in order to further reduce Russia's income.

G7 and EU sanctions on Russian diamonds have led to the loss of major markets. Subsequently, it became known that the reduction of production began in the Russian Federation, some mines closed and the staff were released. And in 2025 it became known that the Russian government wants to buy diamonds at the expense of the budget to support the State corporation "Alros", which is engaged in the production of diamonds and came under the sanctions of the event.