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EU adds key exemptions to Russian diamond sanctions

The European Union has extended the “sunrise period” for sanctions on Russian diamonds by six months and added an important concession for goods that predate the rules.

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The European Union has extended the “sunrise period” for sanctions on Russian diamonds by six months and added an important concession for goods that predate the rules. The traceability program for imports of rough and polished natural diamonds will become mandatory on March 1, 2025, and not on September 1, 2024, the EU stated.

The extension’s purpose is “to allow more time to set up the G7 traceability scheme,” the EU said in its questions and answers.This follows calls by De Beers and other industry figures to extend the interim period, during which importers may use other documentation to show that diamonds are not Russian. 

The decision by the European Union on 24 June to defer its stricter sanctions on the import of Russian diamonds to March 2025 came as a big relief to the Indian diamond industry, particularly the polishing sector. India imports more than 30 percent of rough diamonds from Russia for cutting and polishing.

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DiamondBuzz

De Beers brings Diamonds and Glamour to London

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Insiders suggest a star-studded journey to London might be on the cards. But why London? Beyond its glittering reputation as a global hub for jewellery and fashion, whispers point to something far more dazzling — De Beers is set to host a major showcase in the city.

This year, De Beers Group makes its grand debut at Frieze London, marking a landmark moment where the world of natural diamonds meets the world of art. In collaboration with Frieze Masters, the brand will unveil Voyage Through the Diamond Realm — an immersive experience said to capture the mystery, beauty, and brilliance of natural diamonds like never before.

To bring this vision to life, De Beers has invited India’s leading style and art connoisseurs, including Twinkle Khanna, Ananya Panday, Sara Tendulkar, Karan Johar and many more. Known for their refined taste and appreciation of art and design, these tastemakers are the perfect ambassadors to experience natural diamonds in a whole new light — where every facet tells a story of time, pressure, and perfection.

While details remain under wraps, those close to the brand hint that the experience will be nothing short of transformative — a moment where science, storytelling, and rarity converge to celebrate nature’s most extraordinary creations.

One thing’s certain: when De Beers Group meets Frieze London, the city is bound to shine a little brighter — and perhaps, so will those boarding that flight.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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