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.
More on Policies & Issues
The Latest
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
AuctionsOct 16, 2025
Sotheby’s Introduces Custom Jewelry ServiceThe new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.
MajorsOct 16, 2025
Oscar Heyman’s Holiday Catalog Is Out, and It’s SpectacularThe holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ CollectionThe brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.
Weekly QuizOct 09, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
CrimeOct 15, 2025
Men Receive Lengthy Prison Sentences for 2023 Murder of Colorado JewelerCharles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
Events & AwardsOct 15, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
Events & AwardsOct 15, 2025
JCK, Luxury to Debut New Watch Section in Vegas Next YearTimepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.
AuctionsOct 15, 2025
Christie's Announces New Jewelry Department LeadershipThe auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.
IndependentsOct 14, 2025
Retailer Hall of Fame 2025: Tom DixonAs chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.
Events & AwardsOct 14, 2025
Here Are the Winners of the BIJC, JA ‘Emerging Jewelers’ Grant Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.
IndependentsOct 14, 2025
Day’s Jewelers Crafts Custom Jewelry for No.1 NBA Draft Pick Cooper FlaggThe parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.
SourcingOct 14, 2025
Pragnell Debuts Kitulo Garnet Jewelry The UK-based brand sourced the gemstones, which are fully traceable, from an artisanal mining community in Tanzania.
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
