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
World’s First Lab-Grown Diamond In Space – COSMOS x Skyroot – Taking Indian LuxuryBeyond Earth
In a first-of-its-kind collaboration, Cosmos Diamonds has partnered with Skyroot Aerospace to send India’s first lab-grown diamond jewel into space. At the heart of the mission is the Cosmos Bloom Diamond, a lotus-inspired creation handcrafted in 18 kt gold and adorned with 16 carats of lab-grown diamonds, all grown and crafted in India. Valued at Rs 11 lakh that brings together Indian craftsmanship, innovation, and heritage.
To celebrate the milestone, Cosmos has unveiled The Cosmic Bloom Collection, a limited-edition series, inspired by the space bound jewel. The brand has also applied to Asia Records to be recognized as the first diamond jewellery brand from India to send a diamond jewel into space.
Blending fashion, technology, and storytelling, the collaboration marks a defining moment for modern Indian luxury where jewellery is no longer just worn, but becomes part of history.
Stores: Bangalore, KA & Vijayawada, AP
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.