DIAMONDS NEWS – World Diamond Council to engage with G7 to support planned introduction of import restrictions on Russian origin diamonds

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The World Diamond Council (WDC) acknowledges the G7 Leaders’ Statement released on December 6, 2023, and reiterates its commitment to supporting the G7 countries’ declared objectives relating to import restrictions on non-industrial diamonds that have been mined, processed or produced in Russia. 

The WDC recognizes that the G7 Leaders’ Statement was a high-level declaration and welcomes the stated intention by the G7 to continue consultations for the establishment of an effective mechanism to deliver on these objectives.

DIAMONDS NEWS – World Diamond Council to engage with G7 to support planned introduction of import restrictions on Russian origin diamonds

 Feriel Zerouki, WDC President

The WDC will seek further engagements with the G7 with the goal of supporting their phased introduction of import restrictions and in doing so will focus on the following priorities:

  1. The importance of providing African producing countries the freedom and independence to verify and certify the origin of rough diamonds mined in their territories.
  2. Ensuring that any technology-based solutions that may be used to verify the origin and provenance of diamonds are accessible to both larger and smaller industry participants, including members of the artisanal and small-scale mining sector.
  3. Ensuring that the new measures enhance rather than restrict access to the G7 consumer markets for responsibly sourced natural diamonds.