US May Soon Introduce Stringent Sourcing Regulations Covering All Components of Imported Jewellery
The US government is reported to have told representatives of the gem and jewellery industry in that country that they may soon make it mandatory to certify that each and every component of a piece of imported jewellery has been responsibly sourced, according to reports in the US trade media.
Leading industry publications and websites such as JCK, National Jeweler and others reported that officials of the US State Department stressed this in a specially convened meeting held this week with about 25 leaders of various key industry bodies.
The new regulations will cover precious metals, diamonds and coloured gemstones, the reports stated.
Officials also reportedly told the meeting that the government is of the opinion that some of these components are sourced from countries that may support terrorism and are also known for anti-democratic policies. According to the reports, a few names were specifically mentioned in this regard including Iran, Venezuela and a few African nations, though officials said there would be others as well.
No dates for an official announcement regarding such new regulations were mentioned, but the industry representatives were told that they should ensure strict compliance with all existing requirements and push for more stringent monitoring by global bodies. Weaknesses in the Kimberley Process were also highlighted, it was said, particularly the failure to expand the scope of its mechanism beyond ‘blood diamonds’.
The leaders were given to understand, it was also stated, that other sectors were being covered in a similar manner, but that the jewellery industry was perceived as being one of the high risk areas.
No official announcement has as yet been made by the government, the reports said.