G7 decision to limit Russian diamond imports will not stop India’s purchases
According to the source, Russian diamonds accounted for 30% to 35% in Surat, the center of India’s diamond industry, before sanctions were imposed
Indian companies engaged in diamond cutting and jewelry production continue and will continue to work with Russian rough diamonds, said a high-ranking employee of one of the jewelry companies from the diamond hub of Surat.
“We have not stopped working with Russian rough diamonds, despite the imposed restrictions, although purchase volumes have decreased,” the source said.
“One should keep in mind that, despite all the restrictive measures, it is impossible, and indeed not necessary, to check all the stones that come to the market,” the source noted.
According to the source, Russian diamonds accounted for 30% to 35% in Surat, the center of India’s diamond industry, before unilateral Western sanctions were imposed on Russia.
