On 19 March, the Guardian reported that insiders say current sanctions do nothing to halt flow of Russian gems to the West because majority are exported rough and get reclassified in India.  Russian mines are at the heart of that industry, making the country the world’s largest producer of diamonds, accounting for about 30% of the global market.

https://www.theguardian.com/world/2022/mar/19/jewellery-industry-accused-of-silence-over-russian-diamonds

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017