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![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. Stock image of diamonds](https://uploads.nationaljeweler.com/uploads/aaf54c1b18e0c3b7f0f18c5f30278d21.jpg)
The European Union has delayed its deadline for implementing a “robust” traceability mechanism for rough diamonds by six months.
![From left to right, industry leaders Ronnie VanderLinden, David Bonaparte, Matthew Swibel, Dave Meleski, and Jon Bridge (not pictured), visited the U.S. Capitol last week to meet with lawmakers to discuss import restrictions on Russian diamonds. Jewelers of America advocacy trip DC 2024](https://uploads.nationaljeweler.com/uploads/86b97037eeeb45710cf90d34afdd5566.jpg)
The group met with lawmakers to raise awareness about the financial, operational, and supply chain harms posed by an EU proposal.
![Elephants wade in Botswana’s Okavango Delta in the early morning. Ecotourism in the Delta is one area in which government officials see potential for job growth and revenue generation. (Photo by Chris Boyes/National Geographic Okavango Wilderness Project) Elephants wading in the Okavango Delta in Botswana](https://uploads.nationaljeweler.com/uploads/c1cb4f91dc45fd9141a41f942a87b1d4.jpg)
From moringa to ecotourism in the Okavango Delta, the country and its leaders are exploring how Botswana can diversify its economy.
![The U.K.’s Advertising Standards Authority upheld the Natural Diamond Council’s complaint against U.K.-based retailer Skydiamond. The NDC alleged that Skydiamond’s marketing claims, such as referring to its lab-grown diamonds as “diamonds made entirely from the sky,” were misleading to consumers, and the ASA agreed. Stock image of a gavel](https://uploads.nationaljeweler.com/uploads/b60331cf0f6a415d701f6d2fd9c37a5a.jpg)
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
![Karen Rentmeesters has been appointed interim CEO of the Antwerp World Diamond Centre following Ari Epstein’s resignation last week. Rentmeesters is the center’s head of communications. She has been with AWDC for 14 years. Headshot of Karen Rentmeesters](https://uploads.nationaljeweler.com/uploads/4f6143fcecd93a8585e87600129da7db.jpg)
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
![The inside of Asian Star’s facility in India. Like other large Indian diamond manufacturers, Asian Star said it is prepared to comply with the G7’s ban on Russian diamonds but noted the tighter regulations could burden smaller players. Asian Star’s diamond manufacturing facility in India](https://uploads.nationaljeweler.com/uploads/c1dc5725dd6d4d7079c9a3077ea64983.jpg)
There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
![Graphic for Sarine Tracr webinar on G7 ban on Russian diamonds](https://uploads.nationaljeweler.com/uploads/8616716104892a813c53120e0d6021e7.jpg)
Sarine Technologies and Tracr will hold a free webinar Wednesday on what retailers need to know about the new rules.
![U.S. Customs and Border Protection recently issued new guidance on importing diamonds into the United States under the current Russian diamond ban. U.S. Customs and Border Protection logo](https://uploads.nationaljeweler.com/uploads/13d023e669f70d9b1ba5e41cfb1507c9.jpg)
U.S. Customs and Border Protection has released new guidance as the G7’s effort to restrict the circulation of Russian diamonds ramps up.
![On Wednesday, the European Union added PJSC Alrosa, which is partially owned by the Russian government, and its CEO Pavel Marinychev to the list of entities it has sanctioned in the wake of Russian’s invasion of Ukraine. Stock image of diamonds](https://uploads.nationaljeweler.com/uploads/a4fecf73562b087681b24f3142f2c452.jpg)
The European Union also has sanctioned the diamond mining company’s CEO, Pavel Marinychev.
![The European Union will ban the import of diamonds “mined, processed, or produced” in Russia beginning Jan. 1, part of a fresh round of sanctions designed to impede Russia’s ability to continue to fund its war in Ukraine. Stock image of multiple European Union flags](https://uploads.nationaljeweler.com/uploads/10adca00c9a8b11f26c6f4fd3755d2d9.jpg)
The EU also provided details on the carat weight threshold, and how it will track rough diamonds.
![Diamonds “mined, processed or produced” in Russia will be prohibited from entering G7 nations beginning Jan. 1, 2024. In March, tighter restrictions will go into effect. Rough diamonds from Alrosa](https://uploads.nationaljeweler.com/uploads/4eb4ea5ff2e735cd974125216cb3a6d8.jpg)
It provides a timeline for the implementation of new restrictions, but no details.
![Warren Buffett is seen playing bridge at Borsheims on Sunday. Seated across from him is master bridge player Sharon Osberg, while to her right (partially obscured) is Microsoft founder and longtime Buffett friend Bill Gates. The third gentleman at the table is another champion bridge player, Bob Hamman. (Photo credit: Borsheims) 20180509_Buffett-header.jpg](https://uploads.nationaljeweler.com/uploads/ebee69ab9dafb296be08fdcaaf0767c0.jpg)
The best quotes from the Oracle of Omaha and his right-hand man Charlie Munger from the 2018 Berkshire Hathaway shareholders meeting.
![JA President and CEO Dave Bonaparte with JA members in front of the U.S. Capitol at Jewelers of America’s 11th Fly-In to Washington, D.C. Jewelers of America Fly-In 2023](https://uploads.nationaljeweler.com/uploads/c95a2af4b5e32ecae5766e1ccd9b878a.jpg)
Association members met with lawmakers last month to discuss the record-level rates.
![A file photo of the entrance to Jwaneng, one of the diamond mines De Beers Group operates in partnership with the Government of the Republic of Botswana. De Beers and the Botswana government announced Sunday that they took the next step toward finalizing their new 10-year sales agreement. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) Entrance to Jwaneng diamond mine in Botswana](https://uploads.nationaljeweler.com/uploads/1f24634cb62f9693c2c7e48f658805d9.jpg)
The two have signed “heads of terms” for the tentative 10-year sales agreement they reached in June.
![A 692-carat rough diamond Lucara Diamond Corp. mined earlier this year at its Karowe mine in Botswana. Lucara had a 10-year agreement to sell all its “specials” (diamonds 10.8 carats and larger) to HB Antwerp for manufacturing but announced this week that it is terminating the agreement. 692-carat rough diamond from the Karowe Mine](https://uploads.nationaljeweler.com/uploads/1e695b8d6761870a320c160eaf7c4ce5.jpg)
The two companies initially partnered during the pandemic and had just signed a 10-year sales agreement in November 2022.
![The Conference Board’s consumer confidence index fell to 103 in September from 108.7 in August. Hands pushing a shopping cart](https://uploads.nationaljeweler.com/uploads/9879364980140e723cd7164676d48c05.jpg)
Shoppers also expressed concern about rising prices, higher interest rates, and political uncertainty.
![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. Stock photo of Russian diamonds from Alrosa](https://uploads.nationaljeweler.com/uploads/b24245e39d444e4769a4fade301c0f79.jpg)
Grib is the Belgium-based subsidiary of Russian company JSC AGD Diamonds, which also was sanctioned.
![Alrosa’s new CEO, Pavel Marinychev, was included in the U.S. government’s latest round of sanctions on Russia. He was appointed CEO of the company in May after serving as head of Alrosa subsidiary JSC Almazy Anabara. Pavel Marinychev new CEO Alrosa](https://uploads.nationaljeweler.com/uploads/63a9a77a8f83c1b9c980867772731612.jpg)
Pavel Marinychev was appointed as leader of the diamond mining company in May.
![Indian Prime Minister Narendra Modi presented First Lady Jill Biden with a lab-grown diamond during his White House visit with President Joe Biden last month. (Image courtesy of India’s Ministry of Information and Broadcasting) Indian Prime Minister Narendra Modi with U.S. President Joe Biden and First Lady Jill Biden](https://uploads.nationaljeweler.com/uploads/0678cf6497ac293f0c28d823a3a44c54.jpg)
The International Gemological Institute shared its insider knowledge of the 7.50-carat lab-grown diamond.
![This file photos shows the entrance to Jwaneng in Botswana, one of three active diamond mines in the country. De Beers Group announced over the weekend that it has reached a new agreement with the Botswana government regarding the sale and mining of diamonds in the country. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) The entrance to the Jwaneng diamond mine in Botswana](https://uploads.nationaljeweler.com/uploads/32d38a30bc1e14c1cb3a2f8c32c4f17e.jpg)
The agreement sees more rough diamonds going to Botswana and the development of a fund to help the country further diversify its economy.
![On Tuesday, the U.S. Treasury Department announced sanctions against Midas Resources SARLU, Diamville SAU, Industrial Resources General Trading, Limited Liability Company DM, and Andrey Nikolayevich Ivanov. The department alleges these four companies and one individual are involved in illicit gold dealings that help fund the Wagner Group. (Stock photo) Stock photo of gold bars](https://uploads.nationaljeweler.com/uploads/4a6d0e42e1990fec894562854cd62d3a.jpg)
OFAC sanctioned four companies it claims are helping fund the Wagner Group, the organization that just attempted a coup in Russia.
![The U.S. Department of the Treasury’s Office of Foreign Assets Control announced sanctions against 52 individuals and companies earlier this week for helping alleged Hezbollah financier Nazem Said Ahmad deal in diamonds and artwork in the United States despite being under sanction. The sanctioned firms include a number of diamond companies, while Ahmad and eight associates also have been indicted for money laundering and evading U.S. sanctions. 2023_Diamonds stock.png](https://uploads.nationaljeweler.com/uploads/33fa21d424b803b701429622e6a04256.png)
Officials allege a “complex network” of entities helped Nazem Said Ahmad deal in diamonds and artwork in the U.S. despite being sanctioned.
![On Feb. 24, the one-year anniversary of Russia’s invasion of Ukraine, leaders of the G7 nations announced their ongoing support for Ukraine and their intentions to make it more difficult for Russia to continue to fund the war. Limiting Russia’s ability to profit from its diamonds is one of the areas G7 leaders likely will address. 2021_Alrosa rough.jpg](https://uploads.nationaljeweler.com/uploads/33b42ac1e426843f2587333fb207e101.jpg)
New regulations could block the pathway that allows diamonds cut and polished outside of Russia to enter the United States.
![The Jewelers Vigilance Committee has created a form for members of the watch and jewelry industries to comment on the Federal Trade Commission’s “Green Guides.” It is accepting comments through March 10. 20230216_JVC Green Guides.jpg](https://uploads.nationaljeweler.com/uploads/9f25dcaa5cb488dbff8cd85434b4f562.jpg)
The guides, which monitor B2B and B2C environmental marketing claims, are up for revision for the first time in more than a decade.