EU delays Russian diamond tracking system until 2026
The European Union has postponed the implementation of the Russian diamond tracking system to 2026 due to technological and financial unpreparedness. This delay will give companies time to prepare for the new regulations.
The mandatory Russian diamond tracking system, originally planned to launch in March 2025, has been delayed until 2026. According to Kommersant, this decision stems from the system's lack of readiness and numerous questions regarding its operation.
The tracking system would require companies to provide evidence of the diamonds' origin, a measure intended to help enforce sanctions.
However, the Antwerp World Diamond Centre notes that there is significant uncertainty about the system's operation and management. The organization emphasizes the importance of ensuring a level playing field for all market participants.
Experts highlight the delay linked to the system's technological and financial unpreparedness.
Oleg Abielew from "Rikom-Trust" points out that most Russian diamonds are sent to India before potentially being imported into the EU. Introducing the system could harm European importers more than Russian exporters.
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