Mandatory hallmarking of jewelry in Russia will start on January 1, 2021

The jewelry hallmarking system will start operating in test mode from December 1, 2020, while mandatory hallmarking of jewelry will be introduced in Russia from January 1, 2021. Starting from July 2021, only hallmarked jewelry will be allowed to circulate in Russia’s market. This was stated in a press release issued by the Ministry of Finance of the Russian Federation on Tuesday.
“Jewelry is something that Russia can rightfully be proud of. The jewelry hallmarking system is aimed to protect buyers from counterfeiting and increase consumer confidence in the jewelry industry. In general, the introduction of digitalization elements in the sphere of precious metals turnover will provide prompt access to complete information about jewelry goods being purchased for both buyers and supervisory authorities. At the same time, it will be possible to get acquainted with data on the origin of products and their physical and chemical characteristics,” Deputy Finance Minister Alexei Moiseev commented on this innovation during the Moscow J-1 Jewelry Exhibition-Congress.
Speaking at the jewelry congress, Yuri Zubarev, Head of the Federal Assay Chamber presented a new improved structure of this agency and noted the importance of hallmarking for the market. “The state traceability system will effectively identify potential violators at all stages - from mining to manufacturing and sale of jewelry. In addition, the system will increase the efficiency of state control, automate the administrative procedures for interaction between the state and the market,” he said.