The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has introduced updated regulations affecting the import of diamonds and diamond jewelry, imposing new certification requirements.
Under General License No. 103, importers can bring in diamond jewelry and unsorted diamonds of Russian or uncertain origin if these items were purchased and located outside Russia before the sanctions took effect on March 1, 2024.
General License No. 104 extends similar provisions to nonindustrial loose rough and polished diamonds weighing 1 carat or more. For diamonds between 0.50 and 1 carat, the importation is permitted if they were purchased and located outside Russia before September 1, 2024.
To ensure compliance with these regulations, specific certification statements are required upon import:
For nonindustrial diamonds of 1 carat and above:
Importers must declare that the diamonds were neither mined nor produced in Russia, even if they have been transformed into other products outside Russia.
Alternatively:
Importers must certify that the diamonds meet the criteria of General License 104, having been located outside Russia before March 1, 2024, and have not been exported or reexported from Russia since that date.
For nonindustrial diamonds between 0.50 and 1 carat:
Importers must confirm that the diamonds were not mined or produced in Russia, regardless of any subsequent transformation outside Russia.
Alternatively:
They must certify that the diamonds qualify under General License 104, being located outside Russia before September 1, 2024, with no subsequent export or reexport from Russia.
For diamond jewelry and unsorted diamonds:
Importers must state that the jewelry and diamonds are not of Russian origin and were not exported from Russia.
Alternatively:
Importers must certify that the diamond jewelry qualifies for General License 103, having been located outside Russia before March 1, 2024, and not exported or reexported from Russia thereafter.
These new requirements aim to tighten compliance with OFAC’s sanctions and ensure the integrity of imported diamond goods.
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