G7 members may impose sanctions on Russian diamonds in May

In May this year, G7 member states may impose sanctions on diamonds from the Russian mining giant Alrosa.

This was reported by RBC-Ukraine with reference to The Economic Times.

The publication notes that the restrictions may be imposed on May 19-21 during a meeting in Japan on the eve of the Las Vegas Jewelry Show in June. The sanctions will apply to diamonds weighing 1 carat.

"Once the sanctions come into effect, there will be uncertainty about the employment of nearly three million workers in Surat, India's diamond center, where nine out of ten diamonds in the world are cut," the newspaper notes.

Author - Serhii Kolomiets, 13/04/2023