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Global natural diamond supply is forecast to fall below 95 million carats this year, the lowest since 1987. For Dr. M'zée Fula Ngenge, chairperson of the African Diamond Council (ADC), this is not a death knell but a clarion call. In an exclusive...

Yesterday

Tracr passes 5 million rough diamonds milestone as De Beers expands provenance push

De Beers Group's blockchain-enabled traceability platform Tracr reached a significant milestone in 2025, with more than 5 million rough diamonds individually scanned and registered, up from 2.8 million cumulative registrations reported in 2024. The...

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David Benderly: PermaScribe seeks to put trust mark on diamond table, not just girdle

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The great reset: Paul Zimnisky on supply catharsis, De Beers' bargain and the case for natural diamonds

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Lab-grown...

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Russia considers abolishment of UN Arctic Convention impossible - Foreign Ministry

29 may 2024

The Russian side considers it impossible to abolish the 1982 UN Convention on the Law of the Sea in the Arctic, said Maxim Musikhin, Director of the Legal Department of the Russian Foreign Ministry.

According to him, many laws rely on the Convention and are based on the norms of this document, for example, the basis of the legal regime for the use of the Northern Sea Route. Withdrawal from the agreement is associated with a lot of legal nuances, since the document contains many provisions that will still have to be observed within the framework of international practice, since all world shipping relies on them.

"It is not for nothing that the convention is called the “constitution of the oceans,” a comprehensive international treaty that ensures a balance of interests of states in relation to various types of activities in the oceans," Musikhin said.

The provisions of the Convention ensure freedom of navigation for commercial and government vessels of Russia, as well as its warships. In addition, they guarantee international recognition of the borders of internal waters, the territorial sea and the exclusive economic zone of the Russian Federation, established through bilateral agreements with neighboring states, as well as Russia's rights to the living resources of the Arctic zone, iz.ru writes.

Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished