European diamond merchants are alarmed: sanctions against the diamond-diamond industry of Russia are "absurd" and "sow chaos in the international jewelry", The Times writes.
After the start of the war in Ukraine, Western countries imposed sanctions on Russia's natural resources - they forbade Europeans to buy oil, gold and even caviar of Russian descent. However, partly due to active lobbying by Belgium, the diamonds were not limited to the restriction - by January 1, 2024, when the ban on imports on non -industrial diamonds and diamonds, extracted, processed or produced in Russia came into force.
Shortly after the prohibition of the entry into force, the European Commission ordered all the diamonds heading to the EU to be sent to Antwerp for checking whether they are origin or not. There was only one fever: it is impossible to determine. Despite this, officials require documented confirmation. Diamond merchants complain: these are long delays, additional costs and dissatisfied customers.
At the same time, other traditional diamond trading centers-India, Dubai and Tel Aviv-do not face similar restrictions. In practice, Russia does not feel the consequences of sanctions, unlike the diamond-diamond industry of Europe, where traders fear that they will have to leave Belgium after sanctions after sanctions to save their business.
