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Home > Diamond News Center > Diamond News > World

New U.S. Rough Diamond Trade Rules Proposed

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The United States is considering new regulations concerning the import and export of rough diamonds from its territory, Diamond News reports. The U.S. Customs and Border Protection and the U.S. Treasury Department proposed the revisions that would affect the Clean Diamond Trade Act and the Presidential Executive Order 13312 from July 2003, among other legal provisions.
Current rules require any rough diamond imported to or exported from the United States to be accompanied by a Kimberley Process certificate attesting to the fact that it was not acquired from a region experiencing internal armed conflict. The new proposed rules would require any person residing in the United States who is responsible for said import or export of a rough diamond to possess a copy of the KP certificate for a period of no less than five years after the initial transaction is completed.
Diamond industry professionals may submit feedback to the relevant agencies until October 15, according to Diamond News.
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