After the restrictions came into force, the European Commission (EC) took a new step by ordering that all diamonds entering the bloc be sent to Antwerp to be checked for possible Russian origin.
Traders lament the resulting long delays, additional costs and customer dissatisfaction, as well as demands from officials for numerous documents confirming the origin of each batch of diamonds. Now, due to bureaucracy, the process of fulfilling orders takes up to two weeks instead of the previous two days.
At the same time, the publication writes, the UK and the US abandoned this scheme, allowing diamond manufacturers to certify the country of origin themselves.
In December, the EU and G7 countries agreed to boycott Russian diamonds. From January 1, 2024, supplies of domestic stones are prohibited, and from March 1, tracking and restriction of supplies of precious stones processed in third countries began. All this should help consolidate the tracking and certification system that the G7 expects to create by the fall. On March 1, Canada joined the sanctions once morest Russian diamonds.
In the 12th package of anti-Russian sanctions, direct or indirect import, purchase and transfer of diamonds, including if they transit through Russia or were processed in third countries, were also banned by EU countries. The direct ban applies to non-industrial natural and synthetic diamonds, as well as diamond jewelry.
#Europe #complained #step #Russia
2024-03-25 21:27:39
