[1/5] Cut diamonds are seen at the diamond exchange in Antwerp, as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023.
Other diamond firms in Antwerp, the world's biggest centre of trade in rough diamonds and cutting of the biggest gems, were asked to avoid Russian stones.
Now, Western powers want to make the boycott official with a formal ban on Russian stones.
Imports of Russian rough diamonds are now at less than 5% of pre-war levels, the source said.
Most proposals under consideration by the G7 now focus on rough diamonds of 1 carat and above initially.
Persons:
Johanna Geron, Thierry Tugendhaft, Van Cleef, Tugendhaft, De Beers, It's, Julia Payne, Elaine Hardcastle
Organizations:
REUTERS, Rights, European, World Diamond Council, EU, Thomson
Locations:
Antwerp, Ukraine, Belgium, Rights ANTWERP, Russia, Paris, Tiffany's, Cartier, Canada, Lesotho, South Africa, Botswana, India, United States, Japan, European Union, France, Antwerp . New