Diamond giant De Beers is fully prepared for the expanded G7 restrictions on diamond imports from Russia, which took effect on September 1st. These restrictions now include diamonds weighing 0.5 carats and above, according to Rough&Polished.
De Beers stated that its customers will continue to provide proof of the origin of the diamonds they sell, even as the sanctions now cover rough diamonds weighing 0.5 carats and above, instead of 1 carat and above, as previously stipulated.
The company added that it welcomes the G7’s measures, which stand alongside the diamond industry and diamond-producing nations, aiming to trace the origin of diamonds. “De Beers fully supports the work being carried out by the G7 to prohibit the trade in Russian diamonds, and we are committed to working with the G7, the diamond industry, and our partner governments to ensure there is an effective system put in place,” said De Beers CEO Al Cook.
Source: Israelidiamond