EU Proposes Ban on Russian Diamonds, Challenges in Tracing Origin

The EU is proposing to ban the import, purchase, and transfer of Russian diamonds from January 2024, including those cut and polished in third countries. Western powers are considering a formal ban on Russian diamonds in the international market, but it may face challenges in tracing the origin of the stones, especially for small companies. Major Western jewelers have already distanced themselves from Russia's diamond trade, and a full ban on Russian gems could be costly and time-consuming to implement.