The National Association of Jewellers has welcomed the G7’s ban on Russian imported diamonds but has concerns about how it will be enforced.
In phases, the EU will prohibit non-industrial diamonds that are mined, processed, produced or manufactured in Russia. A direct ban will come into effect on January 1, 2024.
The ban includes diamonds grown in laboratories, diamond jewellery, and the importation, purchase or transfer of diamonds from Russia.
The G7 has been exploring possible options to limit the importation of Russian diamonds.
Ben Massey, NAJ chief executive, said: “Since May 2023, the NAJ has been engaged in trade talks with government officials and has held working groups with trade representatives and government officials to illustrate possible impacts and highlight the need for a constructive narrative to assure confidence in the market.
“Looking ahead, we will continue to work within these groups and communicate with key trade partners to establish what this announcement means for our members and to encourage a workable protocol that provides confidence for the UK jewellery industry.”