Traders say sanctions will not work without a global tracking mechanism The European Union and G7 are looking into ways of hunting down Russian diamonds across borders and want to introduce a “watertight” tracking system that would restrict their trade, Bloomberg reported on Sunday, citing sources. Russia’s diamond trade has so far survived sanctions due to resistance from major importers of gems such as Belgium, which is home to the world’s biggest diamond trading hub in Antwerp. Brussels has repeatedly blocked the EU’s embargo plans, warning that the move could cost thousands of jobs. Around 85% of the world’s r
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