An Arab country tops the rankings…the major diamond suppliers to India

India – In January 2024, India increased its purchases of Russian diamonds to the highest level since September 2023 and recorded at the beginning of this year $79 million, achieving an increase of 28% on an annual basis.

According to data from the Indian Ministry of Commerce and Industry, the value of diamond exports from Russia to India, which is the largest importer of precious stones in the world, during September of last year reached $112 million.

Russia ranked fifth on the list of the largest diamond suppliers to India, topped by the UAE, whose diamond exports rose 1.5 times last January to $772 million.

The United States ranked second, from which imports decreased by 1.4 times to 194 million dollars, then Belgium came in third place with exports worth 138 million dollars, while Hong Kong ranked fourth, whose diamond exports in the aforementioned month increased by 1.7 times. To 137 million dollars.

Diamond exports from Russia to the European Union and the G7 countries have been subject to sanctions since the beginning of this year, and in light of this, Western countries have gradually increased the import of Russian diamonds processed in third countries.

Earlier, Russian Finance Minister Anton Siluanov stated that European Union sanctions on Russian diamonds will not benefit those who imposed them, and Moscow will rearrange its markets and will continue to export diamonds.

Source: Novosti

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2024-03-29 17:49:04

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