Russia's diamond penetrates fraudulently..!? Uncontrollable countries..!

Hundreds of millions of dollars worth of Russian diamonds are sold secretly every month. This has affected the global diamond and diamond trading market, which spans from mumbai diamond factories to luxury jewelry stores on New York's Fifth Avenue. Following Russia's invasion of ukraine, many of the world's leading traders and suppliers are Russian. They are refusing to buy and use diamonds. Not only this, US sanctions have been imposed on Russian diamond mining company Alrosa PJSC.
But a few indian and Belgian diamond merchants saw the right time and got the opportunity to search for quality and unique diamonds among the diamonds that are being accumulated by the world without competition. Thus, not only choosing the best diamond, but because of the lack of competition, the indian and Belgian diamond merchants got the opportunity to buy at a lower price. And this trade has been done secretly without even the knowledge of the diamond world.Although the indian and Belgian diamond dealers have not broken any rules, when the world countries have imposed bans, no one can stop or trace these diamonds when they come into the international supply chain. Diamonds are sold in parcels in the diamond market, which means they are sold based on one size and quality. Thus, the Russian diamond cannot be separated or discovered in isolation. There are about 15000 varieties of a diamond.In this case, before the war European and American companies bought all the diamonds from the Russian Alrosa PJSC company, but now orders for new diamonds have been piled up from Alrosa PJSC's rival company, De Beers. After the ukraine war, not only the world but also the diamond business has broken into two. russia dominates not only crude oil, gas, arms, and tech but also diamonds to a large extent.

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Sowmiya Sriram

20/09/2022 07:57 PM