9 Feb 2024 12:42

OFAC approves documents pursuant to G7 ban on Russian diamond imports

MOSCOW. Feb 9 (Interfax) - The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has issued documents needed to implement a decision announced in December to gradually ban imports of Russian rough and cut non-industrial diamonds into G7 countries.

The United States will ban imports of Russian rough diamonds weighing upwards of 1 carat as of March 1 and rough diamonds upwards of 0.5 carat as of September 1, OFAC said. The ban will also apply to items with Russian diamonds cut in third countries.

OFAC said it plans to issue clarification on these bans.