Illegal circulation of precious stones may result in up to one year in prison

A new law introduces penalties of up to one year of imprisonment for the illegal circulation of precious stones. The provision is outlined in the law “On amendments and additions to certain legislative acts of the Republic of Uzbekistan aimed at improving relations in the field of currency regulation and the circulation of precious metals and precious stones,” adopted on March 21.

According to amendments to the Criminal Code, the illegal acquisition or sale of precious metals and/or precious stones will constitute a criminal offense if committed after an administrative penalty has already been imposed for the same actions.

Under the revised provisions, Article 170 of the Code of Administrative Responsibility stipulates that the illegal purchase or sale of precious metals and/or precious stones may result in confiscation of the items and up to 15 days of administrative detention. For individuals to whom administrative detention cannot be applied, a fine ranging from 10 to 20 base calculation units is предусмотрен.

If a person commits the same violation again after being subjected to administrative penalties, the offense will trigger criminal liability.

For such crimes, penalties include a fine of 75 to 100 base calculation units, corrective labor for a period of two to three years, restriction of liberty for up to one year, or imprisonment for up to one year.

The amendments also provide a clear definition of precious metals and precious stones in the Criminal Code.

Precious metals include gold, silver, platinum, and platinum-group metals such as palladium, iridium, rhodium, ruthenium, and osmium. These may exist in any form or condition, including ingots, refined materials, raw materials, alloys, semi-finished products, industrial goods, chemical compounds, and waste. Jewelry and бытовые изделия, as well as their scrap, are excluded.

Precious stones include natural diamonds, rubies, emeralds, sapphires, alexandrite, and natural pearls. They may be in raw (natural) or processed form. Jewelry and household items, as well as their scrap, are not included in this category.

Earlier, it was reported that in Uzbekistan, entrepreneurs engaged in the jewelry business would be eligible for partial refunds of value-added tax.