OREANDA-NEWS  Representatives of the global diamond industry criticized the plans of the "Big Seven" (G7) to impose sanctions on Russian stones, writes the Financial Times.

In mid-September, the Belgian government announced that the EU and the G7 were finalizing the creation of a common certification system for diamonds and diamonds in order to "track Russian-made precious stones" and cut them off from imports in time. As soon as the mechanism is approved, the "Big Seven" states will ban the import of stones from Russia.

However, global diamond producers and sellers turned out to be dissatisfied with the fact that Belgium is leading the development of this system and the general plan of Western sanctions against Russian diamonds. Antwerp, Belgium, is home to one of the world's largest stone trading centers, the Antwerp World Diamond Center (AWDC), and the global diamond industry is concerned that the country wants to impose sanctions "on its own terms."

16 leading international companies associated with the production and trade of diamonds accused the Antwerp diamond lobby of insufficient "transparency, accountability and inclusiveness." In particular, the world's largest diamond producer, African De Beers, adheres to this position.