Monday, October 7, 2024

Information on diamond importation into the USA.

U.S. Customs and Border Protection (CBP) recently issued crucial guidelines regarding the importation of diamonds into the United States, coinciding with the implementation of new restrictions on diamonds mined but not cut in Russia by the G7 nations.

Effective as of Friday, March 1, entities or individuals importing polished diamonds weighing 1 carat or more into the U.S. are required to provide “self-certification” attesting that the diamonds are not of Russian origin. This entails submitting a PDF document on official company letterhead containing specific declarations.

For non-industrial diamonds weighing 1 carat or more, the self-certification should state: “I certify that the non-industrial diamonds in this shipment were not mined, extracted, produced, or manufactured wholly or in part in the Russian Federation, notwithstanding whether such diamonds have been substantially transformed into other products outside of the Russian Federation.”

Similarly, for diamond jewelry and unsorted diamonds, the self-certification should confirm: “I certify that the diamond jewelry and unsorted diamonds in this shipment are not of Russian Federation origin or were not exported from the Russian Federation.

This documentation can be uploaded to CBP’s Automated Commercial Environment (ACE) Document Image System, the electronic platform for trade processing. Notably, only one self-certification document is required per entry.

CBP plans to introduce additional filing requirements pursuant to the executive order once the necessary ACE enhancements are implemented.

The March 1 initiative serves to counteract CBP’s substantial transformation rule, which previously enabled Russian diamonds to enter the U.S. despite President Joe Biden’s executive order banning their importation in March 2022.

Furthermore, starting September 1, the G7 will lower the size threshold to 0.5 carats and expand import rules to include finished jewelry, lab-grown diamonds, and watches. The Jewelers Vigilance Committee (JVC) has provided guidance on navigating these evolving regulations and has established a dedicated “Sanctions” page on its website for industry reference.

While CBP’s self-certification guidelines offer clarity, industry stakeholders continue to harbor questions and concerns regarding compliance and enforcement. Jewelers of America (JA) President and CEO David Bonaparte emphasizes the importance of sourcing diamonds not originating from Russia and advises members to request CBP declarations from suppliers as a precautionary measure.

Regarding enforcement, JVC notes ongoing efforts by the G7 technical committee to develop a traceability mechanism for diamonds during the “sunrise period” between March 1 and September 1.

The industry awaits further details on the enforcement of the Russian diamond ban following the G7 nations’ December 2023 meeting, underscoring the collaborative efforts of global entities to uphold industry standards and regulations amidst geopolitical challenges.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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