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
Motorsport Meets High Jewellery: Hannah St John Turns Heads with ‘La Velocita’ Diamond Necklace at F1 Event
A 25-carat, 1,800-diamond Masterpiece Inspired by Formula 1 circuits Takes Centre Stage at the Glamour on the Grid ahead of the Australian Grand Prix
At the glamorous lead-up to the Australian Grand Prix, Hannah St John, partner of Liam Lawson, made a striking statement at the Glamour on the Grid event with a one-of-a-kind diamond necklace that seamlessly blended motorsport and haute jewellery.
Titled “La Velocit” (The Speed), the necklace was crafted by Australian atelier Martin Rogers Jewellery. The extraordinary piece features approximately 1,800 diamonds totalling 25 carats, intricately arranged to trace the outlines of iconic Formula 1 circuits from the global racing calendar.
A true testament to craftsmanship, the necklace required an estimated 250–300 hours of meticulous handwork, including weeks dedicated solely to precision diamond setting. Valued at around AUD $500,000 (approximately $350,000 USD), the piece stands as a bold fusion of speed, design, and luxury artistry.
Blurring the lines between engineering inspiration and fine jewellery, “La Velocità” captured attention across the paddock, proving that Formula 1’s influence extends far beyond the track.
Akshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
Chandukaka Saraf Expands Retail Footprint with Grand Showroom Launch in Jalna
Kalyan Jewellers Expands Its Maharashtra Footprint with a New Showroom in Ambernath
AKSHAY TRITIYA 2026 – Healthy Footfalls, Jewellery Sales Across India, Estimated 18–20 Tonnes Of Business Recorded
Motorsport Meets High Jewellery: Hannah St John Turns Heads with ‘La Velocita’ Diamond Necklace at F1 Event
Akshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
-
National News7 hours agoAKSHAY TRITIYA 2026 – Healthy Footfalls, Jewellery Sales Across India, Estimated 18–20 Tonnes Of Business Recorded
-
DiamondBuzz6 hours agoMotorsport Meets High Jewellery: Hannah St John Turns Heads with ‘La Velocita’ Diamond Necklace at F1 Event
-
National News3 hours agoAkshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
-
New Premises5 hours agoKalyan Jewellers Expands Its Maharashtra Footprint with a New Showroom in Ambernath
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.