A license for certain gem imports has been extended by the Treasury Department until 2026
The United States will allow the import of certain Russian diamonds until 2026, continuing a notable exception to sanctions on the world’s largest producer of rough gems.
A direct embargo on diamonds from the country, introduced by the G7 and the EU as part of Ukraine conflict-related sanctions, took effect in January 2024 and was followed by restrictions on stones processed through third countries. Washington later eased that measure with a temporary waiver allowing limited imports under certain conditions.
According to a Treasury Department license…
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