News
Print PDF

Practice Areas

CBP Amends Regulations Related to Rough Diamond Trade

Monday, July 08, 2013
Sandler, Travis & Rosenberg Trade Report

U.S. Customs and Border Protection has issued a final rule that, effective Aug. 7, will amend its regulations to set forth the prohibitions and conditions applicable to the importation and exportation of rough diamonds pursuant to the Clean Diamond Trade Act, as implemented by Executive Order 13312 of July 29, 2003, and the Rough Diamonds Control Regulations issued by the Office of Foreign Assets Control. In addition to restating pertinent provisions of the RDCR, this rule clarifies that any U.S. person exporting from or importing into the United States a shipment of rough diamonds must retain for at least five years a copy of the Kimberley Process Certificate that currently must accompany such shipments and make the copy available for inspection when requested by CBP. The rule also requires formal entry for shipments of rough diamonds.

To get news like this in your inbox daily, subscribe to the Sandler, Travis & Rosenberg Trade Report.

Customs & International Headlines