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.

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.
The Latest

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

CEO Efraim Grinberg noted a resurgence in the fashion watch market.

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

Sponsored by Clientbook


It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

Plans for dining out, booking vacations, and buying big-ticket items were down.

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

The Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.

The family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.

In his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.

The new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.

The Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.

Wrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.

The three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.

Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.

The one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.

Three C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”

The retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.

Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.