Deputy Head of the Ministry of Finance of the Russian Federation Alexey Moiseev said that the West is trying to create a cartel in the global diamond market RIA News.
“We now see the goal of creating a sustainable sanctions mechanism, the creation of the conditional cartel KP-2 (an attempt by the Group of Seven (G7) countries and the European Union to impose a direct ban on the import of Russian rough diamonds to Russia). “It envisages the closure of JBI (jewelry and diamond products) consumption markets for politically objectionable countries and companies, through the introduction of a mechanism for certification of all diamond shipments to the markets of these countries through AWDC or GIA,” the deputy minister said.
In his opinion, artificial limitation of the supply of diamonds on world markets to the scale of Russian production cannot be compensated for in the absence of other resources.
As Moiseev noted, as a result, the possible short-term demand for diamonds from the remaining producers will lead to a sharp decrease in supply and a collapse in the cost of diamonds, accelerated by the replacement of natural stones with more affordable synthetics. Can be produced in unlimited quantities.
Before that in France criticized The 12th sanctions package against Russia includes, among other things, diamond imports.
Previously, for the first time in Russia taken More than a third of the world diamond production market.