The Indian government has taken up on priority the issue of ban on imports of Russian-origin unpolished diamonds by the European Union (EU) and G7 nations, said S Jaishankar.
India Diamond Industry: India s diamond industry, heavily impacted by G7 sanctions on Russia, has received support from the African Diamond Producers Association (ADPA), which opposes the G7 diamond protocol. The G7 countries aim to prevent the entry of Russian diamonds into their markets. ADPA has expressed its discontent at not being included in the G7 discussions and rejected the protocol. The G7 block plans to ban the import of diamonds mined in Russia, including those cut and polished in other countries. This move could lead to supply chain disruptions and increased costs for diamond-producing nations, according to ADPA.
India s diamond industry, heavily impacted by G7 sanctions on Russia, has received support from the African Diamond Producers Association (ADPA), which opposes the G7 diamond protocol. The G7 countries aim to prevent the entry of Russian diamonds into their markets. ADPA has expressed its discontent at not being included in the G7 discussions and rejected the protocol. The G7 block plans to ban the import of diamonds mined in Russia, including those cut and polished in other countries. This move could lead to supply chain disruptions and increased costs for diamond-producing nations, according to ADPA.
US President Joe Biden on Friday announced his decision to downgrade trade status with Russia and ban the imports of seafood, alcohol and diamonds over the invasion of Ukraine.