G7 to discuss four versions of Russian diamond ban this week



Reuters exclusively reported that 7 countries will this week discuss four plans to ban Russian diamonds from G7 markets from Jan. 1, from light-touch self-regulation to strict import measures, laying bare differences that explain why a ban has been so difficult to agree for more than a year. 

Market Impact

A G7 ban would hit Russian diamond exports badly because G7 countries – United States, Canada, Japan, Germany, Britain, Italy and France – account for 70% of global diamond demand. But it would also hit supply, because Russia is the world’s biggest producer of rough diamonds by volume, accounting for 30% of them. 

Article Tags

Topics of Interest: Government

Type: Reuters Best

Sectors: Commodities & EnergyGovernment & Public Services

Regions: Europe

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

Source link


Please enter your comment!
Please enter your name here

Enable Google Transliteration.(To type in English, press Ctrl+g)