Policies & IssuesMar 04, 2024
What to Know About Importing Diamonds Into the U.S.Policies & IssuesJun 26, 2024
EU Pushes Back Sept. 1 Diamond Traceability Deadline, US Yet to Act
The European Union has delayed its deadline for implementing a “robust” traceability mechanism for rough diamonds by six months.
The European Union announced Monday that it has adopted its 14th package of sanctions on Russia. It included updates to the EU’s ban on Russian diamonds that took effect Jan. 1.
New York—The European Union has announced what it describes as a “fine-tuning” to the import ban on Russian diamonds, delaying a major deadline while also issuing a decision about goods that were in the EU prior to the ban.
The announcement came Monday as part of a fresh round of sanctions on Russia intended to punish the country for its full-scale invasion of Ukraine in February 2022.
In it, the EU clarified that the ban on Russian diamonds does not apply to goods that were already in the EU or in a third country (other than Russia) before the ban went into effect, a measure referred to as “grandfathering.”
The EU’s Russian diamond ban took effect Jan. 1 for goods imported directly from Russia and extended to diamonds mined in Russia but cut and polished elsewhere on March 1.
In addition, the EU extended the “sunrise period” on full traceability on imports of rough and polished diamonds from Sept. 1 to March 1, 2025.
When leaders from the Group of Seven nations (G-7) issued their statement on Russian diamonds in December, they said that G-7 countries that are “major” importers of rough diamonds should establish a “robust traceability-based verification and certification mechanism” for rough diamonds by Sept. 1, 2024.
The six-month delay was expected, as the industry does not yet have a full traceability scheme in place.
The EU also said Monday it is postponing the ban on jewelry set with diamonds mined in Russia but cut and polished elsewhere and will allow “temporary” imports or exports of jewelry for trade shows or repairs.
Related stories will be right here …
The announcement came Monday as part of a fresh round of sanctions on Russia intended to punish the country for its full-scale invasion of Ukraine in February 2022.
In it, the EU clarified that the ban on Russian diamonds does not apply to goods that were already in the EU or in a third country (other than Russia) before the ban went into effect, a measure referred to as “grandfathering.”
The EU’s Russian diamond ban took effect Jan. 1 for goods imported directly from Russia and extended to diamonds mined in Russia but cut and polished elsewhere on March 1.
In addition, the EU extended the “sunrise period” on full traceability on imports of rough and polished diamonds from Sept. 1 to March 1, 2025.
When leaders from the Group of Seven nations (G-7) issued their statement on Russian diamonds in December, they said that G-7 countries that are “major” importers of rough diamonds should establish a “robust traceability-based verification and certification mechanism” for rough diamonds by Sept. 1, 2024.
The six-month delay was expected, as the industry does not yet have a full traceability scheme in place.
The EU also said Monday it is postponing the ban on jewelry set with diamonds mined in Russia but cut and polished elsewhere and will allow “temporary” imports or exports of jewelry for trade shows or repairs.
Sara Yood, who just took over as president and CEO of the Jewelers Vigilance Committee, pointed out that while the EU’s decision addressed the issue of “grandfathering” and extended the sunrise period, it did not mention the pending drop in the 1-carat threshold for polished goods.
The G-7’s agreement to ban diamonds mined in Russia but cut and polished elsewhere currently applies only to diamonds weighing 1 carat or more. The carat threshold is set to drop to 0.5 carats beginning Sept. 1.
Yood said she expects that deadline to stand.
“JVC has been encouraging its members to prepare for these changes well in advance of their implementation dates,” she said.
“Although it is incredibly helpful to have this communication from the EU, we are still waiting to hear from the U.S. government if they will implement the same kinds of clarifications to their import ban on Russian diamonds cut and polished in a third country.”
She added that understanding the nuances for diamonds that were imported prior to the bans is “incredibly important” for the U.S. industry, as it addresses complicated areas like heritage pieces and repairs.
On Tuesday, leaders from the U.S. jewelry industry met virtually with State Department officials to discuss diamonds that were in G7 countries prior to the March 1 ban, one of the key issues an industry delegation, led by Jewelers of America, was lobbying lawmakers on during a visit to Washington, D.C. earlier this month.
Nothing was officially decided at the meeting.
More on Policies & Issues
The Latest
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
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.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
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.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
SourcingNov 18, 2025
Another Diamond Company CEO Steps DownMark Wall, president and CEO of Canadian mining company Mountain Province Diamonds, will vacate his position next month.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
