| Title: | Amendments to Rough Diamond Control |
|---|---|
| Date: | 2008-05-12 |
| To: | abi |
| Links: | previous, next |
The Office of Foreign Assets Control of the U.S. Department of Treasury (“OFAC”) will soon be publishing new amendments to the Rough Diamonds Control Regulations, 31 CFR Part 592, to add requirements designed to enhance the collection of statistics related to importations and exportations of rough diamonds.
One of the amendments will be to section 592.301. The new note to this section will explain that the U.S. Customs and Border Protection (CBP) will not release custody of an importation of rough diamonds regardless of value, unless the import conforms with CBP's formal entry for consumption requirements, as defined in 19 CFR 141.0a (f). CBP will notify the trade immediately once these new amendments become effective.
CSMS #08-000089