Program aims to educate young consumers about mined stones’ positive qualities.
The advent of G7 Russian sanctions is driving the need to identify and certify the mined source of diamonds — a move that’s as much a commercial necessity as a legal requirement.
In response to US sanctions regulations effective March 1, Martin Rapaport, Chairman of the Rapaport Group, sent a detailed letter to the US Office of Foreign Assets Control (OFAC).
Group recommends exemptions for goods purchased before March 1, 2024.
Emmerson Mnangagwa also accused of serious human-rights abuses and other corrupt activities.
A broader US ban on Russian diamonds went into effect on March 1, but uncertainty remains about key details.
Includes “Russian Source” diamonds substantially transformed (i.e. cut) outside Russia.
UK expects a mix of declaration by the importer and documented evidence of origin.
WFDB, WDC, GJEPC and IDMA believe the suggested process will cause “irreparable harm” to rest of trade.
State-owned Almazyuvelirexport is among nearly 300 entities targeted in current round.