MOSCOW, November 7. /TASS/. The global diamond sector is passing through the most serious strength test now, Russian Deputy Finance Minister Alexey Moiseev said on the verge of the plenary session of the Kimberley Process, the international diamond certification organization.

"Market overstocking passed earlier during a year; now it is lingering and coincides with the multiple increase of the financing cost for industry players. It can be said without any exaggeration that the global diamond sector is passing through the most serious strength test at present," Moiseev said, cited by the Finance Ministry’s press service.

The global market is now experiencing its fifth crisis in the 21st century but this one is noted for the long period, he added.