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
MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online StorefrontPlus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not DeadPeter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque NecklaceThe necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
Weekly QuizMay 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 15, 2025
'The Mediterranean Blue' Diamond Sells for $21M at Sotheby’sA private American collector purchased the 10-carat fancy vivid blue diamond.
CollectionsMay 15, 2025
Jessica McCormack’s ‘Fruit Salad’ Collection Is Fresh for SummerThe designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
SourcingMay 15, 2025
Tariffs Take Toll on India’s Gem and Jewelry Industry in April The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.
Events & AwardsMay 15, 2025
Poet Sekou Andrews to Give Closing Keynote at ConvergeThe event is also accepting poster submissions now through June 16.
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s SaleThe one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.
Policies & IssuesMay 14, 2025
Foundrae Donates $11K to Ethical MetalsmithsThe donation was the result of the brand’s annual Earth Day Ingot event.
IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and BetterLocated in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.
MajorsMay 13, 2025
DCA Announces New Learning Platform, Course UpdatesThe nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.
MajorsMay 13, 2025
BIJC Launches New Education FundBIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past DecadeAs a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in ZambiaThe miner announced plans to recommence open-pit mining at Kagem.
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
