Program aims to educate young consumers about mined stones’ positive qualities.
Resignation to take effect next Tuesday, trade group says.
US and European clients demanding self-certification even for goods under 1 carat.
Impairment charge and lower average rough prices in flat market hurt bottom line.
Number of incomplete files drops to 15% from previous 90%, according to AWDC.
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.
Fresh off the success of its deal with De Beers, the government is concerned the new measures will be a step back for its diamond industry.
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.
146 Belgian companies sign complaint amid “severe disruption.”