In response to the Group of Seven’s (G7) decision to impose sanctions on Russian diamonds, the International Diamond Manufacturers Association (IDMA) has emphasized the need to safeguard the lives and livelihoods of individuals “engaged in the mining and manufacturing of diamonds,” Rough & Polished reports.
IDMA President Ronnie VanderLinden said: “We are pleased that the G7 will seek further engagement with diamond industry organizations such as the World Diamond Council (WDC) and IDMA, to ensure that diamond producers worldwide – particularly those on the African continent – can continue to mine and market diamonds without fear of job losses and broader economic harm.”
Highlighting the vast employment generated by the global diamond industry, with millions of individuals involved throughout the supply pipeline, VanderLinden stressed the utmost importance of preventing any job losses due to the evolving situation.
IDMA expressed solidarity with the WDC’s perspective, asserting that G7 import restrictions should concentrate on ensuring certification availability and technology-based solutions for smaller industry participants, particularly in Africa. The association emphasized the necessity for new measures to “enhance, rather than restrict, access to G7 consumer markets for responsibly sourced natural diamonds.”
