EU diamond sanctions to hit €4 billion Russian revenue stream

The European Commission has published updated guidelines detailing the next phase of the European Union‘s comprehensive ban on Russian diamonds. According to the commission, the aim is to further restrict Russia‘s access to vital revenue streams. The measures, which form part of a coordinated G7 effort, aim to deprive Russia of an estimated €4 billion in annual revenue, of which approximately €1.5 billion stems from imports into the EU.

“A ban is only effective if a major part of the world’s diamond retail market implements such a ban” the regulatory document stated while explaining the necessity of international cooperation purchase and import of non-industrial natural and synthetic diamonds if they originate in or were exported from Russia. 

From January 1, 2026, these restrictions will intensify as the mandatory requirement for traceability evidence and certification for polished diamonds becomes fully operational.

This upcoming stage targets diamonds with a weight equal to or above 0.5 carats or 0.1 grams, including those processed in third countries. “The weight thresholds apply equally to rough and polished diamonds at the time of importation into the Union” the commission clarified regarding the technical standards for the ban.