Connect with us

International News

US jewellers warn Congress of harm from new sanctions on Russian diamonds

Published

on

US jewellers have warned Congress of the harm that new sanctions on Russian diamonds will cause for the entire retail sector.

The trade association Jewelers of America (JA) met with a dozen Democratic and Republican lawmakers in both the House and Senate to voice concerns over the 1 September restrictions that will require all goods of 0.50-scts and above to enter G7 countries via Antwerp for verification.

JA said it continues to staunchly support efforts that will keep diamonds of Russian origin out of the supply chain, including the more stringent U.S. Customs and Border Patrol requirements that went into effect on 1st March. However, the proposed adoption of an exclusive physical verification and certification system in Belgium for all rough diamonds would cause maximum damage to the global diamond and jewellery supply chain, while having minimal effect on Russia’s diamond revenues.

They say a single import channel will “cause maximum damage to the global diamond and jewelry supply chain, while having minimal effect on Russia’s diamond revenues”.

JA is urging all its members to lobby Congress and explain that the way the restrictions are being implemented will hurt jewellery businesses.

“JA has been working tirelessly behind the scenes and this visit to Washington, D.C. was a critical step to ensure we minimize unnecessary disruptions to the U.S. diamond industry,” said JA president & CEO David J. Bonaparte.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

International News

De Beers Group 2025 Sustainability Report : Highlights Progress Across Its “Building Forever” Sustainability Framework

The Report Details Key Performance Metrics and Strategic Achievements Spanning Climate Action, Biodiversity Conservation, Community Livelihoods, and Diamond Provenance.

Published

on

De Beers Group has published its 2025 Sustainability Report, outlining measurable progress across its “Building Forever” sustainability framework. The report details key performance metrics and strategic achievements spanning climate action, biodiversity conservation, community livelihoods, and diamond provenance.

Accelerating Environmental Stewardship and Climate Action

De Beers reported a 14% reduction in Scope 1 and Scope 2 carbon emissions since 2021, driven by ongoing operational efficiencies and renewable energy integration.

In biodiversity and nature conservation, the company continues to manage over 375,000 acres of land dedicated to wildlife protection across Southern Africa. Furthermore, through its Okavango Eternal partnership, De Beers supported the formal designation of Angola’s first Ramsar Wetland, expanding regional conservation impact across critical eco-systems.

Fostering Sustainable Livelihoods and Economic Development

Demonstrating its commitment to economic capacity building in host communities:

  • Job Creation Multiplier: De Beers supported 2.6 offsite jobs for every onsite position created within its operations in 2025.
  • Women’s Entrepreneurship: An additional 500 women completed training through the EntreprenHER program during the reporting period, bringing the total number of women entrepreneurs supported to over 3,900 since 2016.
  • Socio-Economic Investment: The Group committed US$70 million to the Diamonds for Development Fund in Botswana to drive long-term economic diversification and local growth.

Advancing Industry Provenance and Best Practices

To ensure end-to-end supply chain transparency, De Beers expanded its proprietary Tracr™ platform, which has now registered more than five million individual rough diamonds directly from origin. Simultaneously, the company marked the 20th anniversary of its Best Practice Principles (BPP) program, reinforcing rigorous ethical, social, and environmental standards across the diamond value chain.

Future Strategic Priorities

Looking ahead, De Beers will focus on scaling renewable energy infrastructure to achieve further reductions across Scope 1, 2, and 3 emissions, expanding land areas protected for nature, and accelerating the adoption of Tracr™ across the broader diamond pipeline.

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x