G7 plan to ban Russian diamonds to further dim industry sparkle
© Reuters. FILE PHOTO: A view shows polished colorless and yellow diamonds produced at"Diamonds of ALROSA" factory in Moscow, Russia April 30, 2021. REUTERS/Tatyana Makeyeva/File PhotoLONDON/PARIS - The global diamond sector is scrambling to get ahead of an upcoming G7 ban on Russian gems, with consumers and producers battling to manage ever more complex supply chains against a backdrop of sluggish demand.
Tiffany, part of French luxury group LVMH, said in March last year it had stopped sourcing rough diamonds from Russia. With various proposals under consideration, the industry is currently debating how a diamond's country of origin should be checked, where it should be done, and what sizes of stones, rough or polished, should be part of the rule.
Demand for diamond jewellery is already suffering in the U.S., home to 55% of global demand, due to high interest rates, a muted post-pandemic recovery in China, and competition from lab-grown diamonds.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Hundreds storm airport in Russia in antisemitic riot over arrival of plane from IsraelRussian news reports said the crowd surrounded the airliner, which belonged to Russian carrier Red Wings.
Baca lebih lajut »
Hundreds storm airport in Russia in antisemitic riot over arrival of plane from IsraelRussian news reports said the crowd surrounded the airliner, which belonged to Russian carrier Red Wings.
Baca lebih lajut »
Protesters storm Russian airport to try to block plane from Tel AvivMore than 20 people were injured in the incident, which occurred after Telegram channels based in Dagestan called for people to “catch” Israelis on the flight.
Baca lebih lajut »
At China military forum, Russian defense minister accuses the US of fueling geopolitical tensionsRussian Defense Minister Sergei Shoigu says the United States is fueling geopolitical tensions to uphold its “hegemony,” and he warns of the risk of confrontation between major countries. He made the comment Monday in Beijing at the Xiangshan Forum, which is China’s biggest annual event centered on military diplomacy.
Baca lebih lajut »
At China military forum, Russian defense minister accuses the US of fueling geopolitical tensionsRussian Defense Minister Sergei Shoigu says the United States is fueling geopolitical tensions to uphold its “hegemony,” and he warns of the risk of confrontation between major countries
Baca lebih lajut »
US ‘vigorously condemns’ pro-Palestinian rioters who stormed Russian airport searching for Israeli flightThe White House said it 'vigorously condemns' the rioters who flooded a Russian airport shouting antisemitic remarks and searching for passengers from an Israeli flight.
Baca lebih lajut »