UK updates general trade licence for Russian diamonds processed in 3rd countries

The UK has updated GBSAN0002, its General Trade Licence for sanctioned Russian diamonds processed in third countries. The licence permits the import of certain otherwise prohibited diamonds. Previously it only applied to diamonds that were outside Russia on 1 March 2024, were at least 1 carat in weight, and have remained outside of Russia since that date.

Now, diamonds that meet the following criteria may also be imported:

• Were outside Russia on 1 September 2024;

• Were smaller than 1 carat but larger or equal to 0.5 carats; and

• Have remained outside of Russia since 1 September 2024.

The following publications by the UK government have consequently been updated to reflect the changes:

• guidance on 3^rd country processed Russian diamonds;

• Russia import sanctions;

• Russia metals sanctions: overview;

• guidance on 3^rd party processed iron and steel; and

• guidance on Russia sanctions.