US Postpones Deadline for ‘Grandfathered’ Russian Diamond Imports

The US government has extended the deadline allowing imports of loose “grandfathered’ Russian diamonds by another year.

The original directive set September 1, 2025, as the deadline for importing these diamonds, which was later extended to September 1, 2026. However, on Wednesday, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) released the updated General License No. 104B, delaying the deadline for certain categories to September 1, 2027.

In March 2024, after the US imposed sanctions on Russian-origin diamonds, OFAC issued General License No. 104, which allowed certain nonindustrial loose diamonds purchased before the sanctions took effect to enter the US.

The guidelines covered Russian-origin stones that had not yet entered the US, including rough diamonds sent to India for cutting and polishing, provided the goods had left Russia before the applicable cutoff dates: March 1, 2024, for diamonds weighing 1 carat or more, and September 1, 2024, for 0.50- to 1-carat stones.

The government made no changes to the original General License No. 103, which applies to the importation of diamond jewelry that was outside the Russian Federation before the March 2024 sanctions took effect.

Image: Rough diamonds. (Alrosa)