European traders face delays and extra costs as business heads elsewhere, the newspaper has reported Western restrictions on Russian diamond imports have destabilized the entire industry, as traders struggle to verify gems heading to the EU, the Sunday Times has reported, citing market players. A direct EU and G7 ban on Russian diamonds came into effect in January, and was followed by phased-in restrictions on indirect imports from March 1. A tracking mechanism is also being planned before September to help Western authorities identify the origin of imported diamonds in an effort to avoid sanctions violations. Sho
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