Russian diamonds set for ban under new EU sanctions | BBC News

Russia's rough diamonds are one of the few major exports still untouched by sanctions in response to President Vladimir Putin's invasion of Ukraine last year.
But the European Union (EU) and the G7 are about to impose a ban on them.
Russia is the biggest producer of rough diamonds cut from hundreds of mines beneath the Siberian permafrost, where a third of the world's diamond supply comes from.
Critics have said revenue from the industry helps to finance the war in Ukraine.
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[@bookertee3057]

Sanctions with exceptions? What a joke.

[@gazza124561]

Now you have done them a favour, these diamonds just doubled in value

[@engelgirl7360]

It always backfires against the EU😢😮

[@amanverma7033]

You have even banned Russian oil but via india you are buying that too 😂😂😂😂

[@user-cv8xw8zn5u]

Amen brother

[@ChikitaXNeKITXD]

the main thing here, Russia are not getting money for that Oil. Coz India ARE paying in rupees when buying russian oil

[@niblet112]

@@ChikitaXNeKITXDRussia are going absolutely fine my friend, you do know it’s America that’s 36.5 trillion in debt right? Have you ever asked in debt to who?

[@ChikitaXNeKITXD]

@@niblet112 and all world, even russia, are using dollars. So that American "debt" will be infinite)

[@niblet112]

@@ChikitaXNeKITXD BRICS isn’t using dollars and that’s the point. Even Saudi Arabia are making deals in yuan. 3.5 billion people are now in BRICS, with nato at 770 million. So yeah America are screwed.

[@MrFancyFingers]

People are still buying diamonds?

[@connorbenning9920]

For construction and tools

[@orchidhealth2097]

Every time EU puts a sanction on a russian product, indian and chinese businessman salivate thinking about all those goods they can buy from russia and sell to EU instead for a healthy profit margin. EU finance ministers pulling their hair out in the interim wondering how they can fight the rampant inflation soaring all throughout their countries 😂😂😂

[@akhripasta2670]

Largest Diamond industry is in Surat, India They have been doing it for decades, it didn't start because of war

[@orchidhealth2097]

@@akhripasta2670 Did you even see the video? No one cares about your D-measuing conest about who has the biggest what. The video is about latest round of EU sanctions and why Russia will not notice any issues.

[@Ksov919]

Inflation? While in Russia you need to work and save money for 1 year to buy a new iPhone or car, in Europe you work for 1 to 2 months and can buy it, imagine in the United States that it is up to 2 weeks

[@orchidhealth2097]

@@Ksov919 If you knew even a little bit about how economy works you would also know that it is not that different in US or UK. The problem in UK/US is that ppl buy these stuff on credit. Booming consumer debt is another massive problem facing these economies.

[@mansournohamed8561]

People will still go for Russian diamonds. We are wasting our time .... We can't stop Russia

[@King-LXVI]

Still not sanctioning Israel for all international crimes broken?

[@paul7TM]

Fat chance. The hypocrisy is off the scale.

[@DennisTheMenace-1999]

“To learn who rules over you, simply find out who you are not allowed to criticize”.

[@goldbing]

Yes! They even constantly support Israel for killing

[@Quancept]

"rooles for thou, not for me" - G7 international rools based orda

[@graveperil2169]

i am sorry did i miss Israel invading Egypt???

[@science_engineering]

If I'm not mistaken Russia controls from 30 to 40 % of all diamond market. So after ban there will be deficit, then western countries have to buy the same russians diamonds in India or China with extra charge...

[@user-ds8rj2vc4v]

So probably some EU jewelry company lobbied for this to inflate their prices.

[@JasonPutschker-xw9uf]

No the prices will rise artificially 😂😂❤ and the majority of premium diamonds won't be available in the west now!

[@lorrmaster4778]

Based on my limited research, diamonds aren't really that rare. Their high price is more due to market manipulation than any kind of supply limitation. Not sure if this also extends to industrial diamonds.

[@JasonPutschker-xw9uf]

@@lorrmaster4778 roughly less than 10% of a diamond mine is used for jewelery, only rare diamonds and stones that can be faceted are taken as prime specimens. The majority of diamonds are too micro or unusable unless used in industrial and commercial uses. Even most chips or small stones under .5 carat are usually slivers or cut off shards reshaped. Unless u buy a 1 karat and up than your usually buying imperfect diamonds or heavily included stones that are than heat treated in a lab or manipulated to look more perfect than it is. Rubies,sapphires,emeralds all the same process in finishing only difference is the diamond scale 😂 heating imperfect sapphires to make blood rubies. Very risky but the increase of cost per stone sky rockets more than x100 times the original value of the poor stone ✌️🤗

[@orchidhealth2097]

@@chrisviking7807 They are so pretty though 😊

[@HassanIbraa]

Yeah because sanctioned have worked 😂😂

[@niblet112]

They have worked amazingly for Russia. The British people can no longer pay there bills. And credit card debt in America just hit 2 trillion

[@niblet112]

@chrisviking7807 isn’t Russia under 7000 sanctions??? What’s Americas excuse?? NATO is 200 trillion in debt. I wouldn’t worry about Russia my friend. Worry what’s happening in you’re own country.

[@juliyakrus]

in 2016, diamonds in Antwerp were in 5 times more expensive with the same color and clarity characteristics as Russian ones. Now in Rossia diamonds will become even more affordable, but Europeans will no longer be able to afford diamonds. And Westerners may not even dream about fancy diamonds now because of price, while in Rossia they recently discovered a deposit of fancy diamonds. Oh, your funny sanctions🤣.

[@goldbing]

Russia seems to be blessed, energy, gas, oil, gold, diamonds…..

[@user-cv8xw8zn5u]

Amen

[@kostask8851]

Why do you think they are trying so hard to distabeliz it, so they can go in and ...."Help" the Russian people when it collapses. Unfortunately for them(Evil empires of our planet) they grossly underestimated its people and it's leadership.

[@bojanm986]

And that's why West need Russia on the knees. Remember 90's - Russia was the best friend of USA. Drunk Elcin dancing in front if Bush, Klinton. As long as they could use Russian natural wealth. Meanwhile, Russian people were starving, industry and economy didn't exist.

[@rowandoran7308]

Don't forget an autocrat that has thrown away the nation's youth

[@barneymagee3285]

And a leader that defends his people, and his borders..

[@Ivan-fs7go]

Never saw a Dimond with a "made in Russia" mark

[@user-lo8pi6be3t]

What about Israel?

[@NordStar7]

Israel is a great dude. The more Palestinians he kills, the sooner he will receive the peace prize.😂

[@Matt-jk1kr]

Lmao, Brussels sanctioning Brussels.

[@Ass_of_Amalek]

here's the thing: if the diamond traders say that russian diamonds really can't be removed from the european market because it's impossible to know what is and what isn't a russian diamond, then they're also saying that the systems in place today which they claim are keeping the classic african "blood diamonds" out of our regulated market do not work. that they do not work AT ALL. and I'm sure almost all of these same people have been claiming that those systems work for the most part, and they all do sell supposedly certified "conflict-free" diamonds either as an option or supposedly having all their diamonds meet that standard.

[@masterlightjames950]

The conflicts in Africa are funded by the same countries who make these declarations. They do it because of the diamonds. So, no, these regulations are useless.

[@phongy45]

G7 n EU are war group?.

[@user-cv8xw8zn5u]

ProWar group

[@user-cv8xw8zn5u]

ProWarGroup

[@williamshaw5388]

😂😂😂😂 Good luck with that.

[@guff9567]

Ban diamonds? Very anti-semitic

[@babblo1389]

Best comment

[@jeanclaudejunior]

You're anti-Semitic in fact

[@bojanm986]

Sure you can allow this to yourselves, as long as blood diamonds keep coming from Africa.

[@messrsandersonco5985]

HOW many months did this take?

[@chillfluencer]

Ok, then it will sell it to someone else. Nice.

[@Clip_Gallery]

Rich people not just in EU broooo! This diamonds most of them going to Middle East! And rich people in EU love dubai 😆

[@JasonPutschker-xw9uf]

From Canada, please!!!! do this i have a major stock pile of russian diamonds ❤❤❤❤❤❤ please do this

[@vj.joseph]

When governments are a bunch of jokers..No wonder..😅😅😅😅

[@nzs316]

The girls need their “bling”. Morals vacillate when it comes down to a persons vanity.

[@nzs316]

@@natamin.9224 Hands down a warm (hug) embrace has a superior healing effect compared to a rock on a phalanged digit!

[@magical_universe793]

Not this one girl u poop i dont need diamonds from orcistan i buy from south africa if i need

[@purberri]

Diamonds are just bad for the environment-how the heck do you even know where they come from?

[@PauloRLustosa]

Poor EU, more and more poor.

[@thinkingmind7169]

Where does diamond come from

[@ryanb9566]

okay then price are about to go up, supply and demand :)

[@skylazart]

lol it’s not interesting for those very rich ones… that’s why it’s very difficult.

[@tajeshkalia1293]

Can't ban if it's a sanction only limit or its discriminating.

[@brandonr6301]

It’s about time

[@BabarKhan-vf1wt]

Oh no. What will Russia do now ??😂 Another sanction 😂😂😂

[@masterlightjames950]

Yet, Russian economy is growing and European economies are falling lol

[@dimamatat5548]

EU can live without diamonds.

[@sherylchapman4168]

Manufacturing diamonds works!

[@JasonPutschker-xw9uf]

Yes!!!!!!!!!!❤❤❤❤❤❤❤ Raise the value of my diamonds!!!!!!!

[@shaf60]

Russian diamonds when you look through them all you see is crap . 💩

[@brunosirigado]

Ban doesn't mean ban, it means cheaper... at least for the manufacturers. For the public... who knows.

[@TjakaErasmus]

No fear. South Africa is producing a surplus of diamonds.

[@sexynelson100]

more sanctions only reveals more desperation from europe

[@spambunny123]

Russia call me ill sell diamonds in the EU for you!!!

[@phyutungjoe8219]

👍👍👍

[@user-lo8pi6be3t]

In this moment, in Ukraine are working restaurants, bars, night clubs, ski resorts. And in Gaza there is no food, no water, no electricity, no medicine.

[@ConstructiveMinds100]

How about promoting weddings without diamonds to safe lives.

[@hobodarkness7696]

🤔🤔 good luck. I hope this is successful

[@dubsar]

But who eats diamonds?

[@mgithaiga1]

I'm not a person of Jewlery

[@franciscojose6496]

Important news

[@andrewign5806]

👏🏻👏🏻👏🏻

[@barteatmyshorts8252]

And thay still hold the gold wich Gordon Brown sold to them,!

[@awake3362]

The world is bigger than the EU and the G7.

[@johnransom1146]

Canadian diamonds have a polar bear etched on them. Buy from us.

[@liuxian558]

The world`s largest cutter and polishers of rough diamond is a country called INDIA. So a EU or G7 ban without any tracking system will mean a shortage in the global market & consequently a bonanza for the diamond industry in India

[@graveperil2169]

yes but it will reduce the price that India will buy at reducing the money earned by Russia its the same for oil, they still make it out to the market India makes more money and Russia makes less

[@paulgibbons2320]

What a coincidence. We just happen to have an Indian PM who has just been to India on a state visit 😂👍

[@paulgibbons2320]

@@bonnie7898 well that would be one for the fly on the wall wouldn't it. Like I said I'm sure it's entirely coincidental.

[@johannsverrisson3174]

haha bonanza funny word

[@soton5teve]

Blood Diamonds*

[@daledevernon56]

Instead of being so PC ,call them what they actually are ,blood diamonds.

[@discostu2246]

Those pesky sanctions.. meanwhile the Russian economy is booming 😂

[@discostu2246]

@@chrisviking7807 Uranus? 👍

[@taurus-eg5xu]

Another reporter that talks like we dont understand English.

[@mihirangammm]

What a joke. , price will high and Russia benefited

[@postmanxxx1]

Boring!. When do I get a full refund for my TV licence.

[@enkhyy]

Cultured (lab) diamonds are the answer to avoid conflict diamonds and monopolistic pricing.

[@matthewmiller6568]

Yeah but they are physically inferior to natural diamonds

[@in-x-orable2769]

You can't even keep warm in winter, where do you suppose the immense energy for cultured diamonds will come from?

[@enkhyy]

@@matthewmiller6568 No, they are chemically the same. Take a moment and do more research. They are a good options in price and quality for value-conscious consumers.

[@user-ds8rj2vc4v]

@@matthewmiller6568 Actually they're physically superior in every way. Because they're the same chemistry, but more perfect. Natural diamonds will have both more flaws and more impurities.

[@JasonPutschker-xw9uf]

@@enkhyy as a geologist your wrong!

[@fifidessources]

Don't we have far more important problems? Some people simply have no idea about history. I am for peace and harmony among nations-but all sides have to make an effort!

[@outsidersongs2682]

I'm sorry but this hypocrisy is disgusting. By this reasoning we should be banning US goods too (I already am). And Israel. Either we oppose invasions and war crimes or we don't.

[@DorotaZybura-mi7so]

i been mental hospital 12 years

[@teresachantal6515]

Black market likes this.

[@marlo-ji]

Imagine buying a rare Russian diamond which you can't get under normal situation In my opinion this move just made them more unique lol

[@user-cv8xw8zn5u]

Making their price go up.

[@Ass_of_Amalek]

well, if there are any recognizable characteristically russian colour types of diamonds, that could happen. but natural diamonds are going to drop in value anyway, since artificial diamond production processes have been advancing leaps and bounds in the last ten years or so. it used to be that artificial diamonds were ao imperfect that they were only useful for industrial processes (mostly as relatively fine grit for grinding tools), then they started making tiny gem diamonds, and nowadays synthetic gem diamonds are roztinely produced in really as big a size as can be considered at all reasonable for jewellery. they can either already be made bigger than the biggest natural diamonds, or they will in very few years' time. I don't know what they can do in terms of colours, but I would guess that aome variations are probably not a big additional hurdle. besides, I think the general public image of diamonds is such that most people expect them to be white and do value white diamonds relatively high compared to many colour types. anyways, if you want a sparkly faceted stone, get a moissanite - they're even sparklier.

[@felipe-vibor]

​@@Ass_of_Amalekease on the bile, it might choke you

[@Ass_of_Amalek]

@@felipe-vibor huh

[@masterlightjames950]

​@@Ass_of_Amalekyou are talking rubbish. Real diamonds will continue to increase in price and be highly sought after.

[@thehumancanary131]

It won't hurt Vlady...but all the middle men, salespeople, couriers and others trying to make a living...

[@DorotaZybura-mi7so]

i cam 27 years ago for work

[@chrisorg170]

Does anyone feel bad for diamond brokers…….didn’t think so.

[@AAS_4391]

THEY NEED TO FLOOD THE MARKET WITH MAN MADE DIAMONDS. MAN MADE DIAMONDS ARE MORE PERFECT WITH LESS FLAWS.

[@BeHumanWithOutBorders]

Pot calling a kettle black.

[@CrystallineAlchemist]

Finally

[@B.D.E.]

About time.

[@luckyea7]

Western sanctions measures harm those who impose them against Russia. Sanctions have eliminated competition in the Russian domestic market, which is good for domestic producers and the Russian economy as a whole. Even though Russia does not have everything in the country that is required, for example, to produce chips or other equipment, it is supported by the majority of the world’s population. For example, China, which is an unusually technologically advanced state and is constantly developing, supplies Russia with the goods that it needs. But in the modern world, it is also not a problem to simply bypass sanctions.

[@iklanky6807]

Fake eu competition 😂

[@conniepr]

Blood diamonds

[@Scar626]

Like oil, palladium, wheat and all the other Russian commodities, they will still make their way to Europe, they will just be more expensive. ie So usually what will happen is that places like China and India will buy them and then re-sell them to the EU (or buy them and sell their own resources instead, be that buying Russian oil and then selling their own oil, or probably in this case just buying Russian diamonds at normal prices they are right now and reselling them again for a higher price, because diamonds are about to get more pricey like oil did). And you know what? EU member states probably knew that as they made this ban, just so they can at least feel and say they are doing something. Really helps them get re-elected and makes for good talking points during political debates. I can already see Trump going: "He is weak on Russia, would've never done this if I was in office, etc" - You know? The usual talking points. And then Biden will come with: "I pushed for a ban on Russia diamonds." - Knowing full well that they aren't really banned. So, you're about to see other countries suddenly being able to "fill in" in the Diamond export gap left by these sanctions. And no one is none the wiser to ask where they came from, nor do they really care. They can at least say they are sanctioning . . .

[@user-cv8xw8zn5u]

Well explained

[@graveperil2169]

but they are not buying at the normal price as Russia ha no other markets to sell to so India/China sets the price, Its not about stopping the item going on the market its about reducing the income that Russia can make from them

[@engelgirl7360]

​@@graveperil2169how do you reduce the income when they are still flowing but at even more expensive price due to supply shock/nervous etc

[@graveperil2169]

@@engelgirl7360 they maybe a bit more expensive to the end buyer but Russia is limited on who they can sell them to i.e. India and India will demand a discount as its now a buyers market

[@engelgirl7360]

@@graveperil2169 I want to believe it's still going to somehow fail like the oil price cap or whatever the name,

[@musadube1647]

How do you ban a treasure,it doesn't matter the world can still trade without the West and America

[@DorotaZybura-mi7so]

sam one pley game i never take nothing many

[@Teacher2Polis2XtraRice]

I'd rather buy Lab grown diamond from India. I hope Putin will join Prigozhin soon.

[@DorotaZybura-mi7so]

i never here about weeding with sam one

[@babblo1389]

Are you Ukrainian?

[@catzov]

Antwerp won't be a diamond capital of the world for much longer. Diamond capital of Western Europe sure.

[@polygonalmasonary]

WHY are they still untouched??? Is European leadership corrupt? 😮🇬🇧🌈♥️👍

[@PauloRLustosa]

Is a joke?

[@DorotaZybura-mi7so]

tell me royal pley game

[@mjacob2943]

This excellent decision bond the export diamond

[@_Tony.Montana]

I don't understand all this anti Russian sentiment and anti economic issues, where does the Europeans get their commodities from if it's not from Russia ?

[@2Goiz_1ShanDA]

🙄 That'll work yeah. U must not know the stone game very well. Yeah good luck! Smh😂

[@nostalgiclovetunes4145]

Time to invest in Indian diamond company shares then !!

[@DorotaZybura-mi7so]

sam one pley game my person

[@mrthomasfritz]

During an age where women do not really want worthless rocks? Oh boy! How will they survive?

[@pentegarn1]

Which is awesome!!! IF we actually enforce it....unlike the Russian oil cap.

[@Greenpoloboy3]

This Narrator. never heard of her before

[@mathewowens767]

Good, very 👍 good

[@DorotaZybura-mi7so]

my name is Dorota Zybura

[@MoralScienceEducation]

How do Governments plan on effectively ending the war and bringing peace to the citizens of the world who voted them in?🙏

[@user-cv8xw8zn5u]

LadyZelenska shopping in London isDisappointed: where are theDiamonds?

[@DumpTheDollar]

Silly EU. The diamond processing industry will shift to other countries to survive. And Russian diamonds will go to Asian and middle east markets.

[@DorotaZybura-mi7so]

i have schizophrenia and i weit 27 years for my property i live box room

[@AB-fi5jt]

Do Russians label their rocks?

[@user-we8hi4yu6]

mineral composition

[@DorotaZybura-mi7so]

gavement pey many for my property but fiu people have my documents