02 Sep 2024

With the expansion of G7 import restrictions on Russian diamonds from 1 September, the De Beers Group is fully prepared to meet the requirements that now extend to diamonds of 0.5 carats and above.  

A media release states that De Beers’ best practice principles and pipeline integrity standards have long provided assurance on the provenance of its diamonds. With these programmes, De Beers’ rough diamond customers will continue to be able to provide evidence of diamond provenance as the size threshold included in the G7 import restrictions reduces from 1 carat to 0.5 carats. 

De Beers welcomes the move that the G7 has made to work with industry and diamond producing countries, with an extension of the sunrise period, a focus on the end goal of traceability and the implementation of a practical approach for ‘grandfathered’ diamonds purchased before the introduction of restrictions on Russian supply, says the media release.  

The statement says De Beers is committed to diamond traceability, and its Tracr blockchain platform is expanding at pace, with 2.6 million rough diamonds and 370 000 polished diamonds now registered. Ends