Regulatory Alerts2024-03-07 | 2024-04855Added · Updated
Publication of Russian Harmful Foreign Activities Sanctions Regulations Determinations
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) published determinations issued on February 8, 2024, pursuant to Executive Order 14068. These determinations prohibit the importation of non-industrial diamonds mined, extracted, produced, or manufactured wholly or in part in the Russian Federation, with thresholds of 1.0 carat effective March 1, 2024, and 0.5 carats effective September 1, 2024. Additionally, the importation of diamond jewelry and unsorted diamonds of Russian Federation origin, as well as such products exported from the Russian Federation, is prohibited effective March 1, 2024.
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