Diamond Trade: G7 Sanctions,Alrosa,Surat Firms,Certification

Global 7 Countries (G7): United States, Canada, France, Italy, Germany, UK, Japan

Russia: Specifically, Alrosa (Russian state mining company)

India: Firms in Surat

Ukraine: National Agency on Corruption Prevention (NACP)

Russia's War on Ukraine

Funding for War

Diamond Trade as Funding Source

Sanctions and Certification

G7 countries impose sanctions on Alrosa

Ukraine's NACP reports Surat firms still trading with Alrosa

Surat companies deny allegations

GIA offers traceability services

G7 plans stronger certification

India's GJEPC suspends trade with Alrosa

Panic in Surat's diamond industry

Loopholes in Sanctions

Traceability of Diamonds

Effective Certification

International Cooperation

Multiple Hands Involved: A diamond changes hands 20-30 times

Multi-Country Involvement

Limitations in Existing Certification