Empowering MSMEs with News & Insights

G7 Delegation Visits Surat To Assess Impact Of Stricter Sanctions On Russian Diamonds

Updated: Sep 29, 2023 03:46:26pm

G7 Delegation Visits Surat To Assess Impact Of Stricter Sanctions On Russian Diamonds

Surat, Sept 29 (KNN) A G7 delegation visited Surat to deliberate on the potential consequences of tighter G7 sanctions on Russian diamonds.

During their three-day visit, the delegation examined strategies to limit the supply of Russian rough diamonds, thereby exerting pressure on Russia in light of the conflict in Ukraine.


Led by Brad Brooks-Rubin, a senior advisor at the US Department of State, the delegation includes representatives from various G7 nations, such as Sweden, Belgium, and the United States.

During their visit, they will engage in discussions with top government officials from the Ministry of Commerce and the Gem and Jewellery Export Promotion Council (GJEPC).

In Mumbai, the delegation convened with leading diamond trading firms and trade bodies at the Bharat Diamond Bourse, conducting discussions at the GJEPC office for approximately three hours. During these meetings, the delegation aimed to gain insight into trade practices, specifically focusing on rough diamond sourcing and tracing.

Upon their arrival in Surat, the delegation stopped at the diamond manufacturing units of Laxmi Diamond and Shree Ramkrishna Exports. Subsequently, they explored Mini Bazaar, a prominent diamond trading market in Varachha.

The visit continued with a stop at the Diamond Hospital in Varachha, where the delegation met with representatives from the Diamond Worker Union Gujarat (DWUG) and the Surat Diamond Association (SDA).

As per reports, DWUG presented a written representation on behalf of the numerous diamond artisans, highlighting the potential impact of disrupted Russian rough diamond supply.

The delegation also visited the Surat Diamond Bourse, which is renowned as the world's largest office building. This visit underscores the significance of the diamond industry in Surat and its crucial role in the global diamond trade landscape.  (KNN Bureau)


    Be first to give your comments.


Required fields are marked *