Russia Delays Diamond Export Duty to March 2027
Russia has postponed the introduction of an 8% export duty on unprocessed and partially processed diamonds from September 1, 2026 to March 1, 2027, according to a government decree.
Russia will delay the implementation of an export duty on rough and partially processed diamonds, a government decree published late Tuesday shows. The levy, set at 8%, had originally been scheduled to take effect on September 1, 2026, but is now pushed back to March 1, 2027.
The postponement offers temporary relief to the diamond industry, which has faced a challenging market environment. The duty was intended to generate revenue but could have added costs for producers.
No reason for the delay was provided in the decree. Russia is a major global diamond producer, and the move may impact international supply dynamics.
Source: First Squawk