London, May 15, 2024 – The European Union plans to exclude goods from sanctions on Russian diamonds that were already in the EU before the sanctions were imposed, Reuters reports.
Polished diamonds imported from Russia before March 1, 2024 (or September 1, 2024 for stones under 0.50 carats) will be exempt from the ban.
The proposals for the 14th package of EU sanctions on the Kremlin over its war in Ukraine, which was presented to EU envoys earlier this month, also include these exemptions.
Current rules ban the import of Russian polished diamonds of 1 carat or more into the EU from March 1, even if they have been processed in a third country. This threshold will drop to 0.50 carats on September 1.
