Russia to Impose 8% Export Tax on Diamonds Starting September 1

Russia will impose an 8% export tax on diamonds starting September 1, according to Russian media reports. The tax applies to rough and partially processed diamonds weighing between 0.45 and 10.8 carats, as well as specially sized diamonds above 10.8 carats, aimed at protecting the country's domestic diamond cutting and processing industry. The measure exempts Eurasian Economic Union member states.
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