DIAMONDS NEWS – London Diamond Bourse advises trade on implementation of G7 restrictions on import of Russia origin diamonds

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The London Diamond Bourse has sent a letter to members and the trade giving advice on implementation of G7 restrictions on import of Russian origin diamonds.

In the letter, dated March 4, 2024, and signed by LDB President David Troostwyk, the LDB said:

“In order to continue to Import Polished Diamonds to the UK we suggest the following be added on a separate sheet of paper attached to the invoice by the vendor.

  1. Statement regarding Diamonds Under 1.00 Cts. The Diamonds herein HS Code: 7102 3900 are not subject to the restrictions of Regulation EU 833/2014 & UK 855/2019, The Russia (Sanctions) (EU Exit) Regulations 2019. All Diamonds are under 1.00ct.
  2. Statement regarding Diamonds equal or larger than 1ct. This shipment contains: Polished diamonds that are equal or greater than 1.00ct. On behalf of [COMPANY NAME OR INDIVIDUAL NAME- (Vendor)], I hereby attest that this shipment does not contain any diamonds that originate in Russia or are from any person in Russia, including being mined, processed, or produced in Russia. I confirm that the contents of this attestation are accurate and are compliant with Regulation EU 833/2014 & UK 855/2019, The Russia (Sanctions) (EU Exit) Regulations 2019. We would recommend that you inform the signatory of the above declaration that they may be called upon to verify the statement made.

“As the recipient of the shipment. We would recommend that in respect of either of the statements made above, and to satisfy that reasonable steps have been taken to give a true statement, that you keep a record of these declarations, transportation method and all relevant customs documents, should you, at a later date, be required to produce them.

“The above is given as advice only, as the Department of Trade cannot guarantee that this will satisfy HMRC. This is their response to our request -“I’m afraid we are not able to provide guarantees on what will / will not be accepted at the border. I can, however, refer you back to the guidance which states, ‘A supplier attestation of compliance with this sanction may be acceptable”, and to the other types of information and documentation it signposts.’”

The UK Government has published their Guidance regarding the Import of third Country Processed Russian Diamonds. https://www.gov.uk/government/publications/notice-to-importers-2953-russia-importsanctions/guidance-on-third-country-processed-russian-diamonds-measures

DIAMONDS NEWS – London Diamond Bourse advises trade on implementation of G7 restrictions on import of Russia origin diamonds