Hong Kong returned to the top 5 buyers of Russian diamonds – Kommersant
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In January-September, Hong Kong increased purchases of Russian natural diamonds fivefold, to $252.3 million. Thanks to this, it became one of the top five largest importers of diamonds for the first time since 2017, RIA Novosti reports, citing data from the statistical services.
The first place was taken by India, which, following the results of nine months, increased imports of diamonds from Russia by 16%, to almost $1 billion. Belgium took second place, having reduced imports four times, to $315 million. Armenia also entered the top 5 (increased purchases of Russian diamonds 1.5 times, up to $200 million) and China (2.8 times, up to $40.7 million).
In addition, South Africa, Japan, Macau, Azerbaijan, Mauritius and the USA bought Russian diamonds during the mentioned period. The UAE, which was the top buyer of Russian diamonds in 2022 with $1.6 billion worth of imports, does not disclose statistics.
At the end of November, according to AFP, the European Commission approved proposal to ban the sale of Russian diamonds. This week G7 countries (Germany, UK, Italy, Canada, USA, France, Japan) Deal on mechanisms for limiting the import of Russian diamonds. According to the agreement, a ban on the import of industrial diamonds from Russia will be introduced by January 1, 2024.
Details are in the Kommersant FM article. “Diamonds cannot be cut by sanctions”.
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