US Reprieve for Grandfathered Diamonds from Russia

(IDEX Online) - The US has granted a year-long reprieve before a ban on the import of legacy or "grandfathered" diamonds from Russia comes into force.

Goods that were already outside Russia and that were not exported or re exported from Russia (after specific cut-off dates) will be allowed into the US until 1 September 2026.

The ban, imposed by the US Treasury's Office of Foreign Assets Control (OFAC), had been due to take effect from 1 September 2025, which is before the January 2026 deadline by the G7 for a traceability mechanism to be in place.

Importers generally can self-certify the dates of purchase but may be requested to show proof by Customs.

The ban covers non-industrial rough and polished diamonds of 1.0-carat or larger that were bought by 1 March 2024 and those of 0.50 carats or larger that had left before 1 September 2024. Diamonds that are still inside Russia, or left after these dates remain banned.

The US Department of the Treasury has issued General License No. 104A, authorizing transactions related to the import of certain categories of diamonds prohibited by US Presidential Executive Order No. 14068.