Russian diamond ban creates costly delays, Antwerp diamond dealers say

Antwerp’s diamond district, dubbed the Square Mile, consists of several square blocks covering an area of about one square mile. Credit: Wikipedia

“While we fully support the decisions taken by Belgium, the European Union, and the G7 nations, in regards to the sanctions of January 1st 2024, the implementation of the measures to enforce the sanction has adversely affected all of our operations,” said the letter, signed by over 100 local firms. Diamond dealers say they expect more problems when the additional tracing requirements take effect from September.

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