DiamondBuzz
U.S. to Enforce New Diamond Import Rules Requiring Mining Country Disclosure
Starting in April 2025, U.S. importers must declare diamond mining origins to prevent Russian diamonds from entering the market.
In a move to strengthen sanctions on Russian goods, the U.S. Customs and Border Protection (CBP) will introduce stricter regulations for diamond imports beginning in April 2025. Under the new rules, importers will be required to provide additional data on diamond shipments, including the declaration of the Country of Mining. This will help ensure compliance with Executive Order 14114 and prevent Russian-mined diamonds from being imported through third-party countries.
A key part of the update is the introduction of a self-certification requirement. Importers will need to verify that their diamonds do not originate from Russia, submitting this confirmation through the Document Image System (DIS) using the new CBP167 code. This replaces the previous generic label, streamlining the process while tightening scrutiny of diamond sources.
The decision is part of broader international efforts to stop Russian diamonds from entering global markets, especially after the country’s invasion of Ukraine. With these changes, the U.S. government aims to close loopholes that have allowed Russian diamonds to be processed and sold under other country labels.
CBP has been working closely with industry stakeholders and has updated its ACE Cargo Release Implementation Guide to assist with the transition. Importers are encouraged to review the new guidelines and join biweekly trade support calls to stay informed and address any questions.
The new rules will come into effect in April 2025, with the mandatory self-certification document requirement beginning in January 2025. Importers are advised to prepare in advance to avoid potential delays or enforcement actions.
DiamondBuzz
Lucara Sells 2,488-Carat Motswedi,The World’s Second-Largest Diamond
Recovered In August 2024 At The Karowe Mine In Botswana, Originally Weighing 2,492 Carats Before Cleaning
Lucara Diamond Corp. sold the 2,488-carat Motswedi, the world’s second-largest rough diamond behind the iconic 3,106-carat Cullinan.
Neither the sale price nor the buyer (whether HB Trading, a museum, or a private collector) was disclosed.
Recovered in August 2024 at the Karowe mine in Botswana, originally weighing 2,492 carats before cleaning
The sale was included in Lucara’s Q2 revenue of $41.0 million, representing a 6% year-over-year dip (down from $43.7 million in Q2 of the prior year).
Unclear Share: Lucara did not specify what portion of the $41.0 million total came directly from Motswedi.
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