Agreed with Man of the Wold, the ban might have been in place but I don't think the Valar would have hindered Galadriel's return. The Valar said that no elf was a prisoner in Aman. Galadriel did not participate in the kinslaying and her only crime was being decieved by Feanor. The Valar were in a forgiving mood at the end of the first age and I don't see why they would have forbid Galadriel from coming back when they allowed Feanor’s people to return who were far moe guilty than Galadriel. This is the way I see it, the Valar state that those who return to Aman must face the judgement of the Valar. Maedhros and Maglor are afraid to face this judgement, but they are not forced to return. Galadriel at the time is too proud to return to Aman to face the judgement of the Valar and refuses the summons. It is not until the Third Age that Gladriel can swallow her pride and return to Aman to face judgement. By refusing the Ring Galadriel demonstrates that she has forsaken her pride and she is now ready to face the judgement of the Valar. However, I don't believe that the refusal of the Ring was necessary for her to return, she could have sailed to Aman at any time, but she would still have had to face the judgement of the Valar. She was unwilling to do this until the power of Nenya had been broken and her pride humbled.
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Yet the lies that Melkor, the mighty and accursed, Morgoth Bauglir, the Power of Terror and of Hate, sowed in the hearts of Elves and Men are a seed that does not die and cannot be destroyed; and ever and anon it sprouts anew, and will bear dark fruit even unto the latest days.
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