The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the deadline for importing certain “grandfathered” diamonds linked to Russia until 1 September 2027.
The decision gives eligible traders, manufacturers and importers an additional year to bring qualifying stock into the US.
Eligibility Requirements
General License No. 104B, issued on 26 August 2026, replaces General License No. 104A. It permits the import of certain non-industrial diamonds until 12.01am Eastern Daylight Time on 1 September 2027.
The authorisation covers diamonds weighing 1 carat or more that were physically outside Russia before 1 March 2024. Diamonds weighing 0.5 carats or more are covered if they were outside Russia before 1 September 2024. In both cases, the stones must not have been exported or re-exported from Russia since the relevant date.
The licence applies to qualifying diamonds that had entered international supply chains before the restrictions took effect. This may include stones sent to third-country manufacturing centres for cutting and polishing.
Wider Restrictions Remain
The extension does not remove the US prohibition on imports of Russian-origin non-industrial diamonds. It also does not authorise dealings involving parties blocked under the Russian Harmful Foreign Activities Sanctions Regulations unless OFAC grants separate permission.
The US introduced phased restrictions in 2024 as part of G7 measures targeting revenue from Russian diamonds. The rules initially covered Russian diamonds weighing 1 carat or more, including stones processed in another country, from 1 March 2024. The threshold was lowered to 0.5 carats from 1 September 2024.
OFAC states that imports of non-industrial diamonds of Russian origin “remain prohibited” under Executive Order 14068.General License No. 104B applies only to goods meeting its location, date and movement requirements.
Implications for the Trade
The extension gives businesses more time to establish whether older inventory qualifies. Importers will still need records supporting a stone’s origin, weight, location before the relevant cut-off date and subsequent movement through the supply chain.
For jewellers and manufacturers serving the US market, the extension may allow eligible stock held by overseas cutters or suppliers to enter the country over a longer period. Businesses will still need to distinguish between stones covered by the licence and Russian-origin diamonds that remain prohibited.
General License No. 103 remains unchanged. It separately permits imports of certain diamond jewellery that was outside Russia before 1 March 2024 and has not since been exported or re-exported from the country. OFAC guidance confirms that the authorisations for loose diamonds and diamond jewellery operate separately.
