US to Allow Import of ‘Legacy’ Diamonds From Russia
OFAC has issued two licenses addressing the issue, one for diamond-set jewelry and one for loose diamonds.

Issued Friday, General License 103 allows for the importation of jewelry set with diamonds of Russian or unknown origin as long as the jewelry was outside of Russia prior to March 1, 2024, and has not re-entered the country and been exported again since that date.
March 1, 2024—two years after Russia invaded Ukraine—is the day the Group of Seven (G-7) nations’ ban on 1-carat and above diamonds mined in Russia but cut and polished elsewhere, also known as the “indirect ban,” took effect.
The second license, General License 104, applies to non-industrial diamonds of Russian or unknown origin, allowing their import for a limited time only.
It states that diamonds weighing 1 carat or more that were outside of Russia prior to March 1, 2024, and have not re-entered the country can be imported into the United States.
General License 104 also allows for the importation of Russian diamonds (or diamonds of unknown origin) weighing at least half a carat, as long as they were outside of Russia by Sept. 1, 2024.
Sept. 1, which is this coming Sunday, is the date when the G-7’s ban on Russian diamonds will expand, with the carat threshold dropping to 0.5 carats from 1 carats, thereby encompassing more stones.
General License 104 authorizes importation of these goods until 12:01 a.m. EDT on Sept. 1, 2025.
On Monday, Jewelers of America President and CEO David Bonaparte noted that the issue of legacy goods—also known as “heritage” or “grandfathered” goods—was one of the top issues JA and industry stakeholders lobbied lawmakers to address on its trip to Washington, D.C., in June.
“Jewelers of America is pleased that OFAC issued licenses regarding ‘grandfather’ diamonds and diamond jewelry imported into the U.S. prior to March 2024,” he said.
“This is a very important distinction that will protect legitimate suppliers and JA members when dealing with these specific goods.”
The Jewelers Vigilance Committee issued an alert to its members regarding the OFAC allowances for legacy goods on Friday.
In it, the organization said that while importers should not need to provide any specific documentation on these goods upon importation, it advises them to obtain and keep verification information in line with the “self-certification” documentation U.S. Customs and Border Protection recommended for all diamond imports earlier this year, just in case.
“It is never unwise to be able to prove that the goods you are bringing in are actually exempt from the regulations,” Yood told National Jeweler in an interview Monday.
“Understanding the origin of your goods is still extremely important and being able to confirm that information for all the goods you are importing is highly relevant.”
Friday’s decision to allow importation of diamonds and diamond jewelry that were exported from Russia prior to the G-7 ban comes just ahead of a deadline regarding diamond traceability.
In December 2023, when the G-7 announced its collective ban on the import of diamonds from Russia, it said the G-7 member nations that are “major importers” of rough diamonds should establish a “robust traceability-based verification and certification mechanism” for the stones by Sept. 1 to ensure they are not importing diamonds mined in Russia.
In June, the EU announced it was giving diamond companies in the European Union more time to put a traceability mechanism in place.
The U.S. has not made any formal announcements regarding diamond traceability, and they are not expected to do so.
However, Yood said Monday it is her understanding that U.S. government officials support the EU’s move to delay implementation until March, 1, 2025, or even later, to ensure a “fair and equitable” system can be implemented.
The Latest

Carlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.

The brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.

Proceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.

The upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.

Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.


Citizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.

The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.

Amit Pratihari was previously the managing director of De Beers India and Forevermark India.

Members of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.

Gomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.

Diamond industry banking veteran Paul De Wachter will take on the role in January 2026.

Taylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”

Its “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.

Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.

“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.

The month’s birthstones, tourmaline and opal, complement the palette of autumn.

Smith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.

Associate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.

Respondents were concerned about job availability and rising prices.

Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.

Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.

Two men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.

The “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.

The brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Move over neck mess, the ear story is the way to make a layering statement today.