Trade sources told ET there was a glimmer of hope following a meeting last week between a US government official and the country’s leading jewellers who import diamonds mined across the world and polished in India and other countries.
Trade sources told ET there was a glimmer of hope following a meeting last week between a US government official and the countrys leading jewellers who import diamonds mined across the world and polished in India and other countries.
The US Treasury’s Office of Foreign Assets Control (OFAC) has confirmed that new sanctions against the Russian diamond industry will come into effect on 1 March.
The U.S. Office of Foreign Assets Control (OFAC) on Feb. 8 imposed a ban on non-industrial diamonds mined in Russia, prohibiting their export regardless of whether they were processed in Russia or substantially transformed in a third country.
The Office of Foreign Assets Control (OFAC) of the US Treasury Department has announced sanctions against additional categories of Russian diamonds in line with the decision of the Group of Seven countries on 8 February.