EU to exempt pre-2024 diamonds from Russia sanctions

The European Union plans to exclude “grandfathered” goods from its sanctions on Russian diamonds, according to Reuters.

Rough diamonds imported from Russia before January 1, 2024, and polished diamonds imported before March 1 — or September 1 for stones under 0.50 carats — will be exempt from the ban, the news service reported last week. The report cited proposals for a 14th package of EU sanctions on the Kremlin over its war in Ukraine, which was presented to EU envoys earlier this month.

The rules ban imports of 1-carat and larger Russian polished into the EU from March 1, even if they underwent manufacturing in a third country. This threshold will drop to 0.50 carats on

September 1.

Source:REUTERS

For more Updates Do follow us on Social Media

Facebook Page https://bit.ly/3blw5Rg

Instagram https://bit.ly/3MsRHbP

YouTube https://bit.ly/3LjGj2L

Twitter https://bit.ly/3E9IO5U

Linkedin https://bit.ly/3M17Xlk

WhatsApp Group https://bit.ly/JewelBuzz