Rizzla, so far the diamond industry has been reluctant to move on Russian diamonds, to the extent of saying that it should continue as it would hurt the industry. This goes against all their rhetoric around ethical supply of diamonds and also against the World Diamond Council's System of Warranties, which includes a section on human rights.
Likely outcome is higher prices, though the overall disruption may work the other way?
Longer term, will Russian goods be tainted to the consumer?
Has the industry kicked an own goal by giving man made diamonds another marketing boost in conflict/ethical diamond argument?
Useful diamond market info, page-12
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