Program aims to educate young consumers about mined stones’ positive qualities.
New requirements to state “country of mining” leave a lot of unanswered questions.
The drop in diamond recoveries is a response to market conditions, but also a reflection of diminishing prospects for viable new mines.
Exclusions apply to “grandfathered” goods that were outside of Russia prior to sanctions.
OFAC also names Moscow-based jeweler Miuz Diamonds, which belongs to Israeli billionaire Lev Leviev.
New OFAC licenses allow jewelry and certain loose goods if they were bought before sanctions went into effect.
With the clock ticking to implement industry-wide tracking systems, the major players are pushing their platforms — but working together is the most likely key to success.
Sanctions didn’t stop the world’s largest rough producer from shipping its goods.
Bloc extends “sunrise period” by six months, introduces “grandfathering” clause.
Panelists at RapNet event highlight provenance challenges.
Single import channel in Belgium would cause harm, trade leaders argue.