1 Mar 2024 20:11

Canada bans indirect imports of Russian diamonds weighing over one carat

WASHINGTON. March 1 (Interfax) - Canada is banning the import via third countries of Russian diamonds and jewelry products weighing one carat and above, the Canadian Foreign Ministry said on Friday.

"The Honorable Melanie Joly, Minister of Foreign Affairs, today announced that Canada, alongside G7 partners, is imposing additional import restrictions on Russian diamonds," the ministry said in a statement. The ban applies to "indirect imports of Russian diamonds weighing 1 carat and above," it said.

Ottawa will continue working with international partners to apply the new measures against Russian diamonds, it said.

Previously, Canada sanctioned the Russian diamond mining company Alrosa Group, the ministry said.

Earlier in February, the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) released documentation required for the implementation of a phased ban announced last December on importing Russian non-industrial diamonds and diamond jewelry to G7 countries. Importing Russian diamonds weighing one carat and above is banned from March 1, 2024, and from September 1 for those weighing a half carat and over, OFAC said. The ban also extends to items made of Russian diamonds processed by third countries.

OFAC plans to release explanations for these bans.

Since 2014, Canada has sanctioned more than 2,900 individuals and entities from Russia, Belarus, Moldova and Ukraine, who, "are complicit in the violation of Ukraine's sovereignty and territorial integrity," Ottawa said.