Reported by Michelle Graff

Two diamond companies and a Wagner Group official in the Central African Republic with ties to the gold trade are among the entities included in the latest round of Russian sanctions.

In a member alert issued last week, the Jewelers Vigilance Committee noted that two more diamond companies are among the sanctioned entities: JSC AGD Diamonds, also known as AGD Diamonds, and Grib Diamonds.

AGD Diamonds is a diamond exploration, production and mining company that’s based in Russia while Grib Diamonds is its Belgium-based subsidiary. 

AGD was designated under Executive Order 14024, which pre-dates the war in Ukraine, for operating in the metals and mining sector of the Russian Federation’s economy.

In the alert, JVC reminded members of what it has said repeatedly since the U.S. began sanctioning Russian companies immediately after Russia invaded Ukraine in February 2022—they need to understand where their diamonds are coming from.  

The latest member alert stated: “Jewelry businesses are encouraged to continue the risk-evaluation process they have already been undertaking, including using their AML [Anti-Money Laundering]/KYC [Know Your Customer] framework to step back into the supply chain and ensure they fully understand the scope of their diamond sourcing.

Read full report: https://nationaljeweler.com/articles/12283-grib-diamonds-among-companies-named-in-latest-round-of-sanctions