Russian Jewelers Guild Charter and New Law To Combat Undisclosed Synthetics

Legal
04/05/2015 14:57

This month the Russian Jewelers Guild - representing some 90 industry players - will adopt a charter obliging its members to disclose what kind of gems are used in jewelry - natural or lab-grown says Eduard Utkin, CEO of the Russian Jewelers Guild in an interview with Izvestia Daily. Last week, the State Duma adopted the amendments proposed by the Ministry of Finance to the law "On Precious Metals and Precious Stones" in its third reading. One of them contains a commitment on the part of jewelry stores to indicate on a sealed label, whether a jewelry piece has a synthetic or natural stone. If approved by the Federation Council, the new law could come into force by the end of the year. According to Maxim Weinberg, CEO of Adamas, “Neither the sellers nor the producers in Russia have appropriate inspection tools to monitor the quality of supplied raw materials. To ensure the efficiency of the amendments related to artificial or enhanced stones, it is necessary to ensure quality control over stones at sales points and appoint a state agency responsible for this procedure.”