FALCON POWERS – According to Reuters sources, Washington has decided to conduct a partial review of the restrictions imposed on the import of Russian diamonds after a negative reaction from African producers, Indian jewelry traders, and New York jewelers.
Seven sources said the United States is re-evaluating the more stringent restrictions to ban Russian diamonds after opposition from African countries, Indian gemstone polishing companies, and jewelry stores in New York.
Two sources familiar with the negotiations indicated that the Americans have withdrawn from working with the G7 on restrictions on Russian diamonds.
The sanctions package agreed upon last December, which includes an EU-wide ban, represents one of the biggest changes the diamond industry has seen in decades.
Washington wants to ensure it has struck the right balance between harming Russia and implementing the sanctions, according to one of the officials cited by Reuters.
