June 18, 2018: OFAC amends Rough Diamond Trade Controls

Publication of Amended Rough Diamonds Control Regulations

 
OFAC is issuing an amendment to the Rough Diamonds Control Regulations, 31 C.F.R. part 592, to: clarify several reporting requirements and remove another; clarify which entity may issue Kimberley Process Certificates for the export of rough diamonds from the United States; clarify the steps necessary to validate a Kimberley Process Certificate; add two definitions that define rough diamond packaging requirements and Kimberley Process voided certificates; and make certain technical and conforming changes to the penalties section of the regulations. This amendment will take effect upon publication in the Federal Register on Tuesday, June 19, 2018.

Links:

OFAC Notice

Rough Diamonds Control Regulations

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