KGJI

Diamond Standard Co, a developer of the only regulator-approved diamond commodities, announced a commodity leasing program.  Owners of Diamond Standard Coins and Bars held in the custody of Brinks Vaults may now offer them for lease for 30-day terms to asset-back the issuance of Carats commodity tokens.  Like market-traded gold bars for natural diamonds, Diamond Standard commodities are approved as “good for delivery” to settle futures and options contracts currently in development and targeted to be listed in 2024.  Diamond Standard Coins and Bars are a “Smart Commodity ” containing a wireless chip that issues a regulator-licensed blockchain token when they are held in an approved vault.

The U.S. Treasury has extended sanctions to Russian diamond miner Alrosa PJSC, potentially cutting off about 30% of the world’s supply of rough stones, writes Bloomberg. According to a license from the U.S. Office of Foreign Assets Control, clients of Alrosa and other counterparties must stop all dealings with the miner by May 7.  The U.S. restrictions tighten the screws on Alrosa as the risk of cross-sanctions threatens to deter buyers in other regions. The European Union and the U.K. previously imposed sanctions on the miner following Russia’s invasion of Ukraine.  The main markets for Alrosa are the U.S. and Asia, including India. Last month, U.S.-based jewelers Tiffany & Co and Sig