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Mar 4

De Beers ready for G7 diamond ban on Russia



De Beers has confirmed that it is prepared for the new diamond import requirements that will take effect from 1st March in the G7 countries. The new rules aim to prevent the entry of Russian diamonds into the G7 markets, following allegations of human rights violations and environmental damage in the Russian diamond industry.


The group reiterates that it fully supports the G7’s intentions to prohibit the import of Russian diamonds and emphasises the efforts it has taken to provide assurance on the provenance of the diamonds it produces.


"Over more than a decade, De Beers has developed proprietary best practice principles and pipeline integrity standards that provide assurance on the provenance of its diamonds. These third-party audited programmes ensure De Beers rough diamond customers can provide evidence of provenance for diamonds, meeting the requirements of the new rules that will apply from March 1," it states.


The company has developed its own Best Practice Principles and Pipeline Integrity programmes, which are verified by third-party auditors, to provide evidence of the origin and ethical sourcing of its diamonds.




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