UK Updates Guidance on Complying With Russian Diamond Sanctions
The U.K. this week updated its Russia guidance to add another type of evidence companies can use to prove their imported diamonds don’t violate sanctions against Russia.
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Traders can demonstrate compliance by providing a “verification certificate” issued by the Federal Public Service Economy at the Diamond Office in Belgium, the U.K.’s Office of Financial Sanctions Implementation said May 21. OFSI said this could prove traders’ “compliance with supply chain requirements for diamonds processed in third countries.”
Other proofs of evidence the U.K. already listed include a certificate of origin issued by a chamber of commerce, a bill of lading, a diamond origin report and an original Kimberley Process Certificate.