Policies & IssuesJul 25, 2023
Alrosa’s New CEO Lands on US Sanctions List Policies & IssuesSep 18, 2023
Grib Diamonds Among Companies Named in Latest Round of Sanctions
Grib is the Belgium-based subsidiary of Russian company JSC AGD Diamonds, which also was sanctioned.
JSC AGD Diamonds and its Belgian subsidiary, Grib Diamonds, are the latest diamond companies with Russian ties to appear on an OFAC list of sanctioned entities.
Washington, D.C.—Two diamond companies and a Wagner Group official in the Central African Republic with ties to the gold trade are among the entities included in the latest round of Russian sanctions.
On Sept. 14, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on more than 100 additional Russian companies and individuals, part of an ongoing effort to cut off Russia’s sources of funding for the war in Ukraine.
In a member alert issued last week, the Jewelers Vigilance Committee noted that two more diamond companies are among the sanctioned entities: JSC AGD Diamonds, also known as AGD Diamonds, and Grib Diamonds.
AGD Diamonds is a diamond exploration, production and mining company that’s based in Russia while Grib Diamonds is its Belgium-based subsidiary.
AGD was designated under Executive Order 14024, which pre-dates the war in Ukraine, for operating in the metals and mining sector of the Russian Federation’s economy.
Related stories will be right here …
On Sept. 14, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on more than 100 additional Russian companies and individuals, part of an ongoing effort to cut off Russia’s sources of funding for the war in Ukraine.
In a member alert issued last week, the Jewelers Vigilance Committee noted that two more diamond companies are among the sanctioned entities: JSC AGD Diamonds, also known as AGD Diamonds, and Grib Diamonds.
AGD Diamonds is a diamond exploration, production and mining company that’s based in Russia while Grib Diamonds is its Belgium-based subsidiary.
AGD was designated under Executive Order 14024, which pre-dates the war in Ukraine, for operating in the metals and mining sector of the Russian Federation’s economy.
In the alert, JVC reminded members of what it has said repeatedly since the U.S. began sanctioning Russian companies immediately after Russia invaded Ukraine in February 2022—they need to understand where their diamonds are coming from.
The latest member alert stated: “Jewelry businesses are encouraged to continue the risk-evaluation process they have already been undertaking, including using their AML [Anti-Money Laundering]/KYC [Know Your Customer] framework to step back into the supply chain and ensure they fully understand the scope of their diamond sourcing.
“U.S. businesses should continue to review their sourcing protocols, discuss requirements with suppliers, and evaluate their supply chains using due diligence guidance.”
Also included in this fresh round of sanctions was Russian national Vitalij Victorovich Perfilev, a Wagner Group official currently serving as national security advisor to the president of the Central African Republic.
Perfilev was designated because of his ties to the Wagner Group, the Russian government-based network of mercenaries that already is blocked under E.O. 14024; he has been under sanction by the European Union since June.
The JVC said his designation is germane to the industry because of the links between the Wagner Group and the gold trade in sub-Saharan Africa.
In June, a group of federal agencies made the unusual move of issuing a joint advisory calling attention to “malign actors” like the Wagner Group that continue to exploit vulnerabilities in the gold supply chain there.
JVC said any jewelry companies that are doing business with AGD Diamonds, Grib Diamonds and/or Perfilev should sever ties immediately.
Editors' Picks
Sponsored by
More on Policies & Issues
The Latest
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
