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West’s attempts to ban Russian diamonds may destroy entire global industry

The ban of G7 countries to import Russian raw and polished diamonds may completely ruin chain of supplies existing for decades, Russian Deputy Finance Minister Alexey Moiseev said

MOSCOW, November 7. /TASS/. Attempts of the collective West to limit imports of Russian diamonds may inflict irreparable damage to the entire global diamond industry, Russian Deputy Finance Minister Alexey Moiseev said on the verge of the plenary session of the Kimberley Process, the international diamond certification organization.

"Striving to 'cancel' Russian diamonds, with a third of global mining accounted for them, within the framework of the common goal to inflict economic damage to Russia and subdue it to their perception how the world should be structured, the collective West may eventually 'cancel' the entire global diamond industry, inflicting irreparable damage to it," the official said, cited by the ministry’s press service.

The ban of G7 countries to import Russian raw and polished diamonds may completely ruin chain of supplies existing for decades, achievements of generic marketing of natural diamond and the very business model of the diamond sector through imposed segregation requirements, he added.