On 28 February 2024, a statutory instrument (SI) – the Russia (Sanctions) (EU Exit) (Amendment) (Regulations) 2024 – was published on legislation.gov.uk. The SI amends the Russia (Sanctions) (EU Exit) Regulations 2019.  

The SI was published alongside an explanatory memorandum, which notes that the legislation will ban the import of Russian diamonds processed in third countries. This will apply to stones equal to or larger than 1 carat from 1 March 2024, and will then drop down to stones equal to or larger than 0.5 carats from 1 September 2024. The legislation will also ban the provision of technical assistance, brokering and financial services in connection with the import of third country processed Russian diamonds.