Representative image MUMBAI/LONDON: India, home to 90% of the world’s diamond cutting and polishing industry, and De Beers, the top global rough diamonds producer by value, are seeking clarity and flexibility from G7 countries in implementing a ban on imports of Russian gems. The Group of Seven countries on Wednesday announced a direct ban on…
Representative image India has asked the United States to release $26 million belonging to at least two Indian diamond firms frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters. The Office of Foreign Assets Control (OFAC), the U.S. Treasury unit that oversees sanctions, froze the funds…
Kolkata: Indian traders are looking at destinations such as Vietnam, Cambodia, Thailand, other Asean countries and China to export cut and polished diamonds, as the US may stop importing diamonds of 1 carat and above from India starting January as it believes those may have originated from the mines operated by Alrosa of Russia, a…
