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The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2023

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Insertion of regulation 60GC (trade: exception in respect of the acquisition of diamonds and diamond jewellery)

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5.  After regulation 60GB insert—

“Trade: exception in respect of the acquisition of diamonds and diamond jewellery

60GC.—(1) The prohibitions specified in paragraph (2) do not apply in relation to diamonds and diamond jewellery located in the United Kingdom or the Isle of Man having been lawfully imported there.

(2) The prohibitions specified in this paragraph are those in—

(a)regulation 46Z16L(1) (acquisition of diamonds and diamond jewellery);

(b)regulation 46Z16N(1)(b) (technical assistance relating to diamonds and diamond jewellery);

(c)regulation 46Z16O(1)(b) (financial services and funds relating to diamonds and diamond jewellery);

(d)regulation 46Z16P(1) (brokering services relating to diamonds and diamond jewellery) insofar as it relates to the prohibition at regulation 46Z16O(1)(b).

(3) In this regulation, “diamonds” and “diamond jewellery” have the meanings given in regulation 46Z16J (interpretation of Chapter 4JB).”.

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