diamond news, page-5610

I find PZ's assessment more thoughtful..
- while the G7 is committed, enforcement will be the greatest challenge and requires India to agree and implement wide ranging certification practices as 90% of diamonds are cut and polished in India
- the African exemption is likely to cause implementation issues due to Russia's control of diamond mines in the region
- the sanctions will only apply to diamonds of 1ct or larger. Alrosa's production is skewed to smaller, lower priced diamonds where more than 70% of Russian production would be unaffected.
- if successful, the majority of the cost impact will be born by post production cutters, polishers and jewellers. Unless the end consumer absorbs the higher cost, it is likely the reduced margins will impact rough buyers purchasing power leading to overall lower rough prices for producers