EU delays Russian diamond tracking system to 2026 amid concerns
The European Union has postponed the implementation of the Russian diamond tracking system to 2026. The delay is due to the system's technological and financial unpreparedness, providing companies time to prepare for the new regulations.
The European Union decided to delay the introduction of the mandatory Russian diamond tracking system until 2026. Initially, it was planned to launch in March 2025. According to "Kommersant," this decision stems from the system's unpreparedness and numerous questions regarding its operation.
The tracking system would require companies to provide evidence of the diamonds' origin, which would be intended to help enforce sanctions.
However, as the Antwerp World Diamond Centre notes, there is much uncertainty about its operation and management. The organization emphasizes the importance of ensuring a level playing field for all market participants.
Experts point out that the delay is related to the system's technological and financial unpreparedness.
Oleg Abielew from "Rikom-Trust" notes that most Russian diamonds are sent to India, where they can be imported into the EU. Introducing the system could potentially harm European importers more than Russian exporters.
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