DiamondBuzz
G7 traceability mechanism implementation delayed for a second time
Plans to support diamond sanctions on Russia with a blockchain-backed traceability mechanism have been delayed for a second time.The G7 and EU nations originally intended to implement the scheme on 1 September 2024, but in June 2024 it was put back to March 2025. And last week it was delayed again, until 1 January 2026.
The announcement was made last week in the 16th sanctions package against Russia, marking the third anniversary of its invasion of Ukraine.The postponement has been widely welcomed within the industry, where many feel the introduction would otherwise be rushed and poorly planned.
The Antwerp World Diamond Centre (AWDC) said an additional 10 months would give diamond companies time to prepare properly. The new sanctions package also requires diamond traders importing rough diamonds of mixed origin to present a Kimberley Process certificate listing all countries of origin “At this stage, there is still considerable uncertainty about how the traceability system will function and how it will be governed, and the G7 must first clarify these aspects,” said CEO Karen Rentmeesters
DiamondBuzz
Qatar Diamond Exchange Partners With London Diamond Bourse To Expand Global Reach and Industry Collaboration
MoU Aimed At Fostering Deeper Commercial Ties, Expanding International Trade Opportunities, and Reinforcing Global Industry Standards. The Partnership Is Expected To Drive Economic Growth For Both Bourses While Enhancing Transparency and Trade Efficiency Across The Global Supply Chain.
The Qatar Diamond Exchange (QDE) and the London Diamond Bourse (LDB) have officially signed a Memorandum of Understanding (MoU) aimed at fostering deeper commercial ties, expanding international trade opportunities, and reinforcing global industry standards.
The strategic agreement was signed in London by QDE Director Ghanim Al-Saadi and LDB President Charlotte Rose. The partnership establishes a formal framework to enhance cooperation between the two institutions through reciprocal market visits, joint participation in trade events, and shared access to tenders and auctions.
This agreement marks the latest milestone in QDE’s strategic initiative to connect regional markets with major international trading hubs. In recent months, QDE has expanded its global network by establishing partnerships with prominent bourses in Tokyo, Singapore, Shanghai, and Italy.
Under the terms of the MoU, both bourses will collaborate to strengthen the natural-diamond and colored-gemstone sectors. A central pillar of the alliance is a shared commitment to upholding strict ethical and compliance standards, including guidelines set by the Responsible Jewellery Council (RJC) and the World Diamond Council’s (WDC) System of Warranties.
The partnership is expected to drive economic growth for both bourses while enhancing transparency and trade efficiency across the global supply chain.
Qatar Diamond Exchange Partners With London Diamond Bourse To Expand Global Reach and Industry Collaboration
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