Reuters: US reviewing toughest parts of G7 ban on Russian diamonds
MOSCOW, May 17 — RIA Novosti. The United States is reviewing the toughest elements of the G7 ban on Russian diamonds after African countries, cutters in India and jewelers in New York expressed dissatisfaction, Reuters reports, citing sources.
“The United States is reassessing the toughest elements of the G7 ban on Russian diamonds,” the agency said in a statement.
Three sources said Washington had become cool to the idea of introducing a diamond tracking mechanism, and discussions on the topic had stalled, with one of the officials in the US Biden administration saying the mechanism would only apply to the EU, not the US.
“We need to do this in a way that takes into account the concerns of African partners and African producers, takes into account the views of Indian partners and partners in the UAE,” the official said. According to him, it is also necessary “to ensure that it works for the US industry.”
Restrictions on diamond imports from Russia to the EU and G7 countries came into force on January 1, and from March 1, the community states began to ban the import of Russian stones processed in third countries (diamonds). For control purposes, a mechanism for tracking and certifying diamonds is planned to be created by September, and the main role of the sanctions enforcer has been entrusted to Belgium, where the world’s largest trade and processing center, the city of Antwerp, is located.
A representative of the European Commission previously told RIA Novosti that the diamond control and certification system for ensuring anti-Russian sanctions is currently operating in test mode. The Belgian financial administration at the World Diamond Center (AWDC) in Antwerp has been tasked with checking the origin of diamonds for admission to EU markets within the framework of the G7 ban on stone supplies from Russia.