DiaMondaine Diamantaires Club mulls diamond safari tours in southern Africa

DiaMondaine Diamantaires Club (DDC) is set to organise diamond safari tours in southern Africa, home to major diamond-producing countries. DDC founder Agnes Abdulahu told Rough&Polished’s Mathew Nyaungwa that the launch of the first diamond safari...

15 july 2024

Vladislav Zhdanov: Questions of efficiency and investment potential of diamond mining versus diamond growing pique keen interest

Vladislav Zhdanov is Professor at the National Research University Higher School of Economics (HSE). He told Rough&Polished about new researches into the effectiveness of diamond production methods.

02 july 2024

Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

The African Diamond Manufacturers Association (ADMA) president António Oliveira told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that the lack of a robust infrastructure in Africa fails to accelerate and encourage manufacturing...

24 june 2024

Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 2024

GemsCouture- avant-garde by Victor Moiseikin

Jewelry items and precious souvenirs of the MOISEIKIN jewelry brand are in the museums and private collections of world celebrities, representatives of the political and cultural elite - from Xi Jinping to the British Windsors, from Angela Merkel to...

05 june 2024

GOI: G7’s curbs on Russian diamonds will not hurt India

20 december 2023

As per a plan conveyed by the G7 bloc, all Russian diamonds of one carat and above will not be accepted into their countries from March 1, 2024, and the curbs will be expanded to diamonds of half a carat or lower from September with traceability systems to be put in place, as per a report in The Hindu.

According to trade officials, the Central Government of India (GOI) has assured that the G7 nations' move to block the entry of Russian diamonds into Indian markets will have minimal disruption to India’s diamond processing businesses.

Stating that India was in touch with the EU and G7’s technical teams, Commerce Secretary Sunil Barthwal said that rough Russian diamonds were generally small and those cut and polished by India were of less than 0.5 carats, so the impact of the G7 curbs would be less than initially anticipated. “We should be able to export our diamonds without disturbing the proposed sanctions on Russia,” he said.

“They also understand we are an important player because we polish 90-95% of the diamonds of the world, and if there’s an issue with us, the entire industry suffers,” said another official, noting that India’s interventions had led to some fine-tuning in the G7’s plans.

The G7 is now proposing the setting up of a node within their territory to track all the diamonds that eventually find their way to the markets. “India does not directly import diamonds from producing countries but through various mixing centres such as Antwerp or UAE and nearly 99% of the diamonds do not come to us directly. If they come to us via UAE or via the G7 node, it actually doesn’t make a difference to us,” the official explained.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished