https://en.sputniknews.africa/20240606/sa-wants-to-cooperate-with-russian-diamond-producers-ceo-of-the-sa-state-diamond-trader-says--1066912608.html
SA Wants to Cooperate with Russian Diamond Producers, CEO of the SA State Diamond Trader Says
SA Wants to Cooperate with Russian Diamond Producers, CEO of the SA State Diamond Trader Says
Sputnik Africa
Restrictions enforced by the G7 nations on January 1, 2024, prohibited the import of non-industrial diamonds and polished diamonds from Russia. As of March 1... 06.06.2024, Sputnik Africa
2024-06-06T16:46+0200
2024-06-06T16:46+0200
2024-06-06T18:47+0200
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South Africa wants to cooperate with Russian diamond producers, the CEO of the South African State Diamond Trader, Nosiphiwo Mzamo, told Sputnik Africa on the sidelines of the St. Petersburg International Economic Forum 2024.The African country hopes that the restrictions on access to Russian diamonds will be lifted so that South Africa can cut and polish gems bought from Russia, she noted.Given that Africa and Russia account for 90% of world diamond production, there is a "huge" supply deficit of diamonds due to Western sanctions on Russian-produced diamonds, she added.Commenting on the issue, Dr. Mohammed Abubakar Mohammed, Senior Special Assistant on Solid Minerals Development to the Executive Governor of Kwara State, Nigeria, also highlighted the "very huge" impact of Western sanctions against Russian diamond producers on diamond imports. According to him, the global market is currently contracting, while, as he noted, it should remain accessible to all participants.
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SA Wants to Cooperate with Russian Diamond Producers, CEO of the SA State Diamond Trader Says
16:46 06.06.2024 (Updated: 18:47 06.06.2024) Restrictions enforced by the G7 nations on January 1, 2024, prohibited the import of non-industrial diamonds and polished diamonds from Russia. As of March 1, the ban extended to Russian stones processed in third countries.
South Africa wants to cooperate with Russian
diamond producers,
the CEO of the South African State Diamond Trader, Nosiphiwo Mzamo, told
Sputnik Africa on the sidelines of the St. Petersburg International Economic Forum 2024.
The African country hopes that the restrictions on access to Russian diamonds will be lifted so that South Africa can cut and polish gems bought from Russia, she noted.
Given that Africa and Russia account for 90% of world diamond production, there is a "huge" supply deficit of diamonds due to Western sanctions on Russian-produced diamonds, she added.
"I hope and wish that things can work out in terms of the political sphere, and then those issues can be resolved, and then the diamonds of Russia can find their way into the trading market again," the CEO noted.
Commenting on the issue, Dr. Mohammed Abubakar Mohammed
, Senior Special Assistant on Solid Minerals Development to the Executive Governor of Kwara State, Nigeria, also highlighted the
"very huge" impact of Western sanctions against Russian diamond producers on diamond imports. According to him, the global market is currently contracting, while, as he noted, it should remain accessible to all participants.
