The Group of Seven announced on the 6th local time that it will ban the direct import of diamonds mined, processed or produced in Russia from January 1 next year, and will gradually restrict the import of Russian diamonds processed in third countries from around March 1 next year.

In response to this move, Russian Presidential Press Secretary Peskov said that discussions on sanctions imposed by the Group of Seven on Russian diamonds have been going on for several months and are no longer news. Russian diamond mining companies are very aware of the risks they face and are in the process of Try to hedge your risks.