On Jul. 22, 2024, RUS GVT issued law 212-FZ on amendments to law on precious metals and precious stones in force from May 1, 2025.
On Jul. 17, RUS PRL approved bill amending precious metals law.
RUS PRL approved billon amendments to law on precious metals and precious stones.
Proposals
The law aims to abolish mandatory stamping with the state hallmark of jewelry and other products made of gold, platinum/platinum group metals of domestic production.
It abolishes mandatory sampling for products marked with identification means and intended for export to states that are not members of the Eurasian Economic Union.
In addition, the bill proposes a two-dimensional bar code must be applied to jewelry and other products made of precious metals of domestic production and jewelry and other products made of precious metals imported into the Russian Federation for sale.
According to the provisions of the Law, the application of a two-dimensional bar code on jewelry and other domestically produced items is carried out on a voluntary basis.
Overall, the proposed bill establishes a state monopoly on the application of two-dimensional bar codes on jewelry and other products made of precious metals.
It also simplifies the requirements for transportation of investment precious metals.
Jul. 22, 2024, Law Issued
On Jul. 22, 2024, RUS GVT issued law 212-FZ on amendments to law on precious metals and precious stones in force from May 1, 2025.
Regulators
RUS PRL
Entity Types
CNSM; Corp
Reference
PR, Law 212-FZ, 7/22/2024; Bill 594968-8, 7/17/2024;
