The new regulations now apply to diamonds weighing 0.5 carats and above, lowering the previous threshold of 1 carat.
For years, De Beers has ensured the traceability of its diamonds through its Best Practice Principles and Pipeline Integrity standards. These programs provide verifiable proof of the origins of De Beers’ diamonds, giving its customers the ability to meet the newly expanded G7 import requirements without disruption.
De Beers welcomes the G7's collaborative approach with the diamond industry and producing countries, especially its extension of the sunrise period and its focus on achieving robust traceability. Additionally, the inclusion of provisions for "grandfathered" diamonds—those purchased before the Russian supply restrictions—has been seen as a practical solution.
As part of its ongoing commitment to diamond traceability, De Beers continues to expand its Tracr blockchain platform, which now tracks over 2.6 million rough diamonds and 370,000 polished diamonds.
“We fully support the G7’s efforts to restrict the trade of Russian diamonds,” said De Beers Group CEO Al Cook. “We are dedicated to working with the G7, the diamond industry, and our governmental partners to establish an effective system that ensures the integrity of diamond sourcing.”
This proactive stance further strengthens De Beers’ role as a leader in transparency and ethical sourcing within the global diamond market.
