Since it took over the vice-chairmanship of the Kimberley Process on January 1, the Russian Federation hopes to use that position to tackle a problem it feels is plaguing the gem industry, Rough and Polished reports: the blending of natural diamonds and synthetic diamonds in the same parcels.
“We want, first of all, nobody to sell synthetics passing it off for natural stones,” said Russian Vice Minister of Finance Aleksey Moiseev in an interview with the Praim news agency. Moiseev asserted that about 20% of the global polished diamond trade is tainted by such blending, according to industry experts, and that this phenomenon if also of concern to other diamond producers, as well.
Though the blending of natural and synthetic stones constitutes a challenge to the industry, synthetic diamonds in and of themselves would continue to come into their own, finding their rightful place the international gem market, said Moiseev.
