Moscow: The Russian government has announced that it will impose an 8% export duty on rough diamonds weighing between 0.45 carats and 10.8 carats, as well as on special-size diamonds exceeding 10.8 carats, effective September 1, 2026.

The new duty will apply to rough diamonds in weight categories that are considered economically viable for domestic cutting and polishing.

Russia had maintained a 6.5% export duty on rough diamonds until 2016. However, the levy was abolished following the country’s accession to the World Trade Organization (WTO), a move that was widely viewed as having weakened the competitiveness of Russia’s domestic diamond manufacturing sector.

By reintroducing the export duty, the Russian government aims to encourage greater local value addition, strengthen the country’s diamond cutting industry, and improve the economics of processing smaller stones. While India remains the global leader in diamond manufacturing, cutting and polishing nearly 90% of the world’s diamonds, Russia currently processes less than 5% of the rough diamonds it produces.