Speaking last week at the Belgian Consul General, in New York, Belgian Prime Minister Alexander De Croo urged the global jewelry sector to back Belgium’s call for G7 sanctions on Russian diamonds, according to a report in Rough & Polished.
De Croo said that Russian diamonds have “become a symbol of war and human rights violations,” adding: “The G7 wants to reduce Russian diamonds revenues. As the leading diamond trading hub, Belgium has a responsibility to contribute to its success.”
According to the report, the G7 countries (Canada, France, Germany, Italy, Japan, the UK, the US and the EU) account for 70% of global diamond sales and are “widely expected to announce sanctions to take effect on January 1, 2024.”
A G7 team, which includes representatives from Belgium, is planning to visit Surat and Mumbai to investigate Russian rough diamond deals. According to a report from the Times of India, quoted by IDEX Online, the group is currently in talks with industry bodies to finalize the visit for the last week of this month.
