![](https://static.wixstatic.com/media/4dbd2b_c6dd9ef37a4540baa25d9fdc4c96edae~mv2.jpeg/v1/fill/w_75,h_42,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/4dbd2b_c6dd9ef37a4540baa25d9fdc4c96edae~mv2.jpeg)
The series of announcements in mid-December on the G7 Russian diamond sanctions caught the diamond industry by surprise. The anticipated and somewhat contradictory statements by G7 members went much further than anyone expected, laying down a collection of fast and extreme measures that touch on the very fabric of how the diamond industry operates.
The economic powers have a goal to suffocate Russia, and the diamond industry, with all its fine nuances, appears to be just a means to an end.While the G7 Russian diamond sanctions are important, the proposed framework unfortunately suffers from a lack of clarity, too many open-ended issues, and concerns over the viability of the implementations.
The series of announcements have left the diamond industry confused. After long months of diamond industry bodies lobbying, it seems that the G7 has decided on picking the strictest options, going far beyond the industry’s expectations.
Source: edahngolan.com
For more Updates Do follow us on Social Media
Facebook Page https://bit.ly/3blw5Rg
Instagram https://bit.ly/3MsRHbP
YouTube https://bit.ly/3LjGj2L
Twitter https://bit.ly/3E9IO5U
Linkedin https://bit.ly/3M17Xlk
WhatsApp Group https://bit.ly/JewelBuzz13