Policies & IssuesMar 10, 2022
Open Letter Calls for Heightened Gold Supply Chain Vigilance Policies & IssuesMar 14, 2022
US Bans Import of Russian Diamonds
The Jewelers Vigilance Committee has shared updated guidance on the executive order, which was issued Friday.
The U.S. government has banned the import of non-industrial diamonds from Russia in response to the country’s invasion of Ukraine.
Editor’s note: This story was updated on March 14 to include additional guidance from the Jewelers Vigilance Committee about the nature of the diamonds that have been banned by the U.S.
Washington, D.C.—President Joe Biden issued an executive order Friday, March 11, banning the import of non-industrial Russian diamonds into the United States.
It’s the latest from the U.S. government in response to Russia’s Feb. 24 invasion of Ukraine.
On Feb. 25, the U.S. put both diamond miner Alrosa and its CEO on a list of sanctions, though it didn’t directly prohibit buying the company’s diamonds. This new order now means no direct diamond buying from Alrosa or any other Russian company is allowed.
Alrosa mined 32.4 million carats in 2021, making it the largest producer by volume and accounting for nearly 30 percent of global supply, with sales topping $4 billion. The Russian government holds a 33 percent stake in the company.
The Jewelers Vigilance Committee said Friday any U.S. business purchasing diamonds directly from Alrosa, Alrosa USA, or any other Russian company should immediately put an end to the transactions.
JVC noted early Monday the ban on importation of diamonds from Russia includes “unworked or simply sawn, cleaved, or bruted” diamonds, meaning rough diamonds, as well as those cut and polished in Russia.
U.S. Customs regulations and interpretation of the FAQs issued by the Department of the Treasury’s Office of Foreign Assets Control after the ban was enacted indicate rough diamonds from Russia that are cut and polished in another country are “substantially transformed” by that process, JVC said, and thereby become a product of that country.
This means rough diamonds imported from Russia into a country that hasn’t placed sanctions or a ban on the diamonds are then legal to import to the U.S. as they fall under a different tariff code.
In additional guidance issued Monday, JVC said it is possible countries that serve as traditional cutting centers might implement a ban on the import of Russian diamonds.
The U.S. government also could decide to further limit imports of products originating in Russia that are “substantially transformed” somewhere else or add additional tariff codes to the current ban.
JVC said it recommends the trade proceed with “extreme caution” when it comes to diamond imports as the risk of additional limits in the future is high.
The organization also urges U.S. businesses to make sure their anti-money laundering programs are active and to check OFAC’s sanction lists to make sure they’re not sourcing products from places or companies they shouldn’t be.
Friday’s executive order also prohibits “the exportation, re-exportation, sale, or supply, directly or indirectly, from the United States” of luxury goods to Russia.
JVC said this means U.S. businesses previously selling jewelry to or in Russia should stop doing so immediately.
Other Russian goods banned for import by the order are fish, seafood, and alcoholic beverages.
Related stories will be right here …
Washington, D.C.—President Joe Biden issued an executive order Friday, March 11, banning the import of non-industrial Russian diamonds into the United States.
It’s the latest from the U.S. government in response to Russia’s Feb. 24 invasion of Ukraine.
On Feb. 25, the U.S. put both diamond miner Alrosa and its CEO on a list of sanctions, though it didn’t directly prohibit buying the company’s diamonds. This new order now means no direct diamond buying from Alrosa or any other Russian company is allowed.
Alrosa mined 32.4 million carats in 2021, making it the largest producer by volume and accounting for nearly 30 percent of global supply, with sales topping $4 billion. The Russian government holds a 33 percent stake in the company.
The Jewelers Vigilance Committee said Friday any U.S. business purchasing diamonds directly from Alrosa, Alrosa USA, or any other Russian company should immediately put an end to the transactions.
JVC noted early Monday the ban on importation of diamonds from Russia includes “unworked or simply sawn, cleaved, or bruted” diamonds, meaning rough diamonds, as well as those cut and polished in Russia.
U.S. Customs regulations and interpretation of the FAQs issued by the Department of the Treasury’s Office of Foreign Assets Control after the ban was enacted indicate rough diamonds from Russia that are cut and polished in another country are “substantially transformed” by that process, JVC said, and thereby become a product of that country.
This means rough diamonds imported from Russia into a country that hasn’t placed sanctions or a ban on the diamonds are then legal to import to the U.S. as they fall under a different tariff code.
In additional guidance issued Monday, JVC said it is possible countries that serve as traditional cutting centers might implement a ban on the import of Russian diamonds.
The U.S. government also could decide to further limit imports of products originating in Russia that are “substantially transformed” somewhere else or add additional tariff codes to the current ban.
JVC said it recommends the trade proceed with “extreme caution” when it comes to diamond imports as the risk of additional limits in the future is high.
The organization also urges U.S. businesses to make sure their anti-money laundering programs are active and to check OFAC’s sanction lists to make sure they’re not sourcing products from places or companies they shouldn’t be.
Friday’s executive order also prohibits “the exportation, re-exportation, sale, or supply, directly or indirectly, from the United States” of luxury goods to Russia.
JVC said this means U.S. businesses previously selling jewelry to or in Russia should stop doing so immediately.
Other Russian goods banned for import by the order are fish, seafood, and alcoholic beverages.
More on Policies & Issues
The Latest
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
SourcingDec 29, 2025
‘Unearthed: Raw Beauty’ Exhibition Opens at LA MuseumThe new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
AuctionsDec 24, 2025
Bonhams to Open New U.S. Flagship in NYCIn February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
