Source link The Asian country is trying to “delay or prevent” the embargo imposed by the EU and G7 last month, according to Subrahmanyam Jaishankar India’s diamond industry will feel the impact of new Western sanctions imposed on Russian exports of precious stones, Foreign Minister Subrahmanyam Jaishankar has said. A direct EU and G7 ban […]
Source link European traders face delays and extra costs as business heads elsewhere, the newspaper has reported Western restrictions on Russian diamond imports have destabilized the entire industry, as traders struggle to verify gems heading to the EU, the Sunday Times has reported, citing market players. A direct EU and G7 ban on Russian diamonds […]
Source link Russia is working on response measures to Western restrictions, a Foreign Ministry diplomat says Belgium will lose its status as the global diamond trading hub due to Western sanctions on Russian diamonds, Artyom Studennikov, the head of the First European Department of the Russian Foreign Ministry, told RIA Novosti in an interview published […]
Source link Russia’s Alrosa and its CEO have been targeted as part of the import ban on diamonds produced in the country The EU has added Russia’s mining giant Alrosa as well as its CEO Pavel Marinychev to its sanctions blacklist, the European Council announced on its official website on Wednesday. According to the announcement, […]
Source link The EU and G7 restrictions apply to direct imports of non-industrial diamonds mined, processed, or produced in the country Western restrictions on direct imports of Russian diamonds have come into effect. As of January 1, deliveries of non-industrial diamonds mined, processed, or produced in Russia to the markets of G7 and EU countries […]
Source link The average customs agent will not be able to distinguish between gems of different origin, the CEO of De Beers says It is almost impossible for customs agents to distinguish Russian diamonds from any others, the CEO of De Beers has said. He was commenting on a planned Western ban on Russian precious […]
Source link Russia will bypass EU restrictions on the export of the country’s diamonds, Kremlin spokesman Dmitry Peskov told journalists on Tuesday. Responding to questions related to the latest package of the bloc’s sanctions against Moscow, Peskov insisted that the ban will not work. “It [the diamond ban] was predictable, we were preparing for it,” […]
Source link The restrictions will start applying on January 1, 2024, according to a press release The EU will impose a ban on the direct or indirect import, purchase, or transfer of diamonds from Russia from January 1 onwards, the European Council (EC) has announced. The measure is part of the bloc’s twelfth package of […]
Source link The new hub is located in the city of Surat, where over 90% of the world’s diamonds are cut and polished Indian Prime Minister Narendra Modi on Sunday inaugurated Surat Diamond Bourse, a new precious stones cutting and polishing hub in Surat in his home state of Gujarat. The new facility is expected […]
Source link Angola has officially opened its new Luele diamond mine, the biggest in the country and one of the world’s largest by estimated resources. The deposit is likely to double the country’s annual production. The 600-meter-deep deposit is in the northeastern Lunda Sul Province, and is expected to yield 628 million carats of diamonds […]
Source link A proposed tracing mechanism will hurt the continent’s producers, according to the multilateral body Kimberley Process The Group of Seven (G7) nations’ plan to track and trace Russian diamonds will bring “irreparable harm” to African producers, according to Ahmed bin Sulayem, who heads up the multilateral regulatory body Kimberley Process, the Financial Times […]