US extends loophole to keep banned Russian diamonds coming

RT.com
29 Aug 2025, 01:36 GMT+10

A license for certain gem imports has been extended by the Treasury Department until 2026

The United States will allow the import of certain Russian diamonds until 2026, continuing a notable exception to sanctions on the world's largest producer of rough gems.

A direct embargo on diamonds from the country, introduced by the G7 and the EU as part of Ukraine conflict-related sanctions, took effect in January 2024 and was followed by restrictions on stones processed through third countries. Washington later eased that measure with a temporary waiver allowing limited imports under certain conditions.

According to a Treasury Department license issued this week, the waiver has been prolonged through September 2026, covering non-industrial diamonds over one carat that were outside Russia from March 2024 and not re-exported since, as well as stones above half a carat that met the same conditions starting last September.

The new license replaces an earlier waiver issued in August 2024 that was due to expire next week. Treasury said that the waiver does not lift the broader ban on Russian-origin diamonds or transactions with sanctioned entities.

READ MORE: Russia sanctions are crippling EU diamond mecca media

Restrictions on Russian gems have shaken the global diamond market. Moscow has described the ban as evidence that Western nations have largely exhausted options for further sanctions. Russia, the world's biggest producer of rough diamonds, accounting for about a third of global output before the restrictions, has since redirected its trade to China, India, the UAE, Armenia, and Belarus.

(RT.com)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Calgary Monitor.

More Information

null in null

North America

Section

Air Canada pact may spark wider shift on flight attendant ground pay

MONTREAL/CHICAGO: Air Canada's tentative labor deal with its flight attendants, reached after a crippling strike that grounded thousands...

US extends loophole to keep banned Russian diamonds coming

A license for certain gem imports has been extended by the Treasury Department until 2026 The United States will allow the import...

Legal NFL wagering expected to reach $30B this season

(Photo credit: Matthew Emmons-Imagn Images) Legal wagering on the NFL continues to expand, with the American Gaming Organization...

UCLA to begin Nico Iamaleava era against Utah

(Photo credit: Jayne Kamin-Oncea-Imagn Images) UCLA football coach DeShaun Foster has kept a tight lid on practices this summer....

Dinesh K Patnaik appointed India's next High Commissioner to Canada amid reset in ties

New Delhi [India], August 28 (ANI): Senior diplomat Dinesh K Patnaik, a 1990-batch officer of the Indian Foreign Service (IFS), has...

India's Semiconductor Mission covers all major sectors, including drone chip manufacturing: Vaishnaw

Sanand (Gujarat) [India], August 28 (ANI): Highlighting the broad scope of India Semiconductor Mission (ISM), Union Minister Ashwini...

Canada

Section