De Beers Group confirms preparedness
Needed readiness next phase of G7 diamond import With the expansion of G7 import restrictions on Russian diamonds on 1 September, De Beers Group is fully prepared to meet the requirements that now extend to diamonds of 0.5 carats and above. De Beers’ proprietary 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 moves 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. De Beers is committed to diamond traceability,