What will happen to diamond prices if russia gets new sanctions

[Garry H (Cut Nut)]

A conundrum for discussion.
This rare pink beauty is almost certainly from Russia.
There is technology to identify that today.

But the diamond was mined and sold before the Ukraine War.
Are we only concerned about post war diamonds - or all diamonds with Russian provenance?

8.82-cts Purple-Pink Diamond Could Sell for $6m

www.idexonline.com

 

[Texas Leaguer]

Diamonds purchased before the invasion are not perpetuating the conflict. The goal of sanctions is to stop Putin's aggression. Abiding by those sanctions is our obligation as responsible trademembers. Indiscriminately punishing the Russian people, or the many innocent parties around the world connected to that industry, would be counterproductive.

 

[Karl_K]

A conundrum for discussion.
This rare pink beauty is almost certainly from Russia.
There is technology to identify that today.

But the diamond was mined and sold before the Ukraine War.
Are we only concerned about post war diamonds - or all diamonds with Russian provenance?

8.82-cts Purple-Pink Diamond Could Sell for $6m

www.idexonline.com

For many the answer is not that hard.
Will the sale cause money to paid to Russia or has money been paid for the diamond to Russia since the invasion of Ukraine?
Its a yes or no question.
Its the money flowing back to Russia, that is the issue the item could be a diamond or shoe strings doesn't matter.

 

[prs]

Diamonds purchased before the invasion are not perpetuating the conflict. The goal of sanctions is to stop Putin's aggression. Abiding by those sanctions is our obligation as responsible trademembers. Indiscriminately punishing the Russian people, or the many innocent parties around the world connected to that industry, would be counterproductive.

Are you really suggesting all sanctions should be terminated because they indiscriminately punish the Russian people?

 

[Ionysis]

I went to the dubai expo last week and the Staff told me the Russia pavillion is so so much less busy since the Ukraine invasion. Good.

 

[Rockdiamond]

The issue of sanctions- and their effects. It’s a tough one. The situation is so dire….it feels like we have to take any and all actions…. but there’s also a consideration that many of the people of Russia might be just as opposed to the war. They are powerless to stop this madman. If they protest they get arrested and I’m sure they’re conscripted into the army.
So, we might be punishing people who are victims themselves.
Yet- when I read that there are companies not boycotting ( Koch for example ) it makes me want to boycott those companies.
It’s just not a black and white issue.

 

[Texas Leaguer]

Are you really suggesting all sanctions should be terminated because they indiscriminately punish the Russian people?

Of course not. Please read my posts again.

 

[prs]

Of course not. Please read my posts again.

I did read your post and fail to understand what you mean when you say

"Indiscriminately punishing the Russian people, or the many innocent parties around the world connected to that industry, would be counterproductive."

If this applies to sanctions on the diamond industry, how does it not apply to all other sanctions?

 

[MissGotRocks]

I did read your post and fail to understand what you mean when you say

"Indiscriminately punishing the Russian people, or the many innocent parties around the world connected to that industry, would be counterproductive."

If this applies to sanctions on the diamond industry, how does it not apply to all other sanctions?

I assume he is referring to the diamonds sold and traded before the sanctions were in place. WF has been a very vocal advocate of the Ukrainian people even though they are obviously affected by the sanctions on diamond trade. Like most of us, they understand the need for the sanctions.

 

[Karl_K]

I did read your post and fail to understand what you mean when you say

"Indiscriminately punishing the Russian people, or the many innocent parties around the world connected to that industry, would be counterproductive."

If this applies to sanctions on the diamond industry, how does it not apply to all other sanctions?

"indiscriminately" is the key word.
From dictionary.com
"indiscriminately
[ in-di-skrim-uh-nit-lee ]
without exercising discernment or making appropriate distinctions:"

without exercising discernment or making appropriate distinctions punishing the Russian people, or the many innocent parties around the world connected to that industry, would be counterproductive.

The meaning to me seems clear and I agree.

 

[Mlh]

Signet Expects to Hold the Line on Diamond Prices Despite Russia War

www.bloomberg.com

 

[Rockdiamond]

Signet Expects to Hold the Line on Diamond Prices Despite Russia War

www.bloomberg.com

From the article:

One of the largest jewelry retailers in the U.S. says it doesn’t expect a significant increase in its diamond prices this year despite wartime sanctions on Russia, the top supplier of the precious stones.

Interesting article!
Somewhat …. Behind the times. Prices have already risen substantially this year…. But Signet seems to congratulate themselves for holding the line.

 

[Mlh]

One more https://www.forbes.com/sites/pamdan...ady/?sh=23fe4bd0330f&utm_source=pocket_mylist

 

[prs]

If civilian deaths continue to mount in Ukraine, and particularly if Ukrainians start starving to death in cities besieged by Russia, then it will not be long before public pressure forces the US and its Nato allies to give Countries like India a choice. Continue to do business with Russia, or continue to do business with us, but you can't do both!

 

[LLJsmom]

nevermind

 

[Serg]

If civilian deaths continue to mount in Ukraine, and particularly if Ukrainians start starving to death in cities besieged by Russia, then it will not be long before public pressure forces the US and its Nato allies to give Countries like India a choice. Continue to do business with Russia, or continue to do business with us, but you can't do both!

Such approach is main reason of Russia-Ukraine war, it is also the reason of many previous wars and future wars.
it is very important to understand and respect many different points of view.
Russian government has to respect Ukraine choice,. USA, NATO have to respect other Nations Choices . Otherwise more strong wars will come a soon.

 

[DRSAMURAI]

One could make a strong case for the back channeled Russian rough diamonds to India where cutting here changes provenance to India makes these the "New Blood Diamonds". Putin's invasion of the Ukraine is funded this way. Am I wrong? Does the Kimberly Process apply in this scenario?

 

[Garry H (Cut Nut)]

One could make a strong case for the back channeled Russian rough diamonds to India where cutting here changes provenance to India makes these the "New Blood Diamonds". Putin's invasion of the Ukraine is funded this way. Am I wrong? Does the Kimberly Process apply in this scenario?

The Kimberely Process was established with UN endorsement to focus solely on civil wars and over throwing governments.
This has been a bad limitation as many of us would prefer Zimbabwe had KP sanctions, but the then wisdom did not foresee that.
So I do not see how there could be sanctions applied to Russia via KP.
As for stopping Russia selling to India, that is a foregone conclusion.
Diamonds can not be identified after being cut and polished, so there is no way any company of government can claim to not be selling them.
All those high and mighty claims by big brands - who and how can they be audited?

 

[DRSAMURAI]

The Kimberely Process was established with UN endorsement to focus solely on civil wars and over throwing governments.
This has been a bad limitation as many of us would prefer Zimbabwe had KP sanctions, but the then wisdom did not foresee that.
So I do not see how there could be sanctions applied to Russia via KP.
As for stopping Russia selling to India, that is a foregone conclusion.
Diamonds can not be identified after being cut and polished, so there is no way any company of government can claim to not be selling them.
All those high and mighty claims by big brands - who and how can they be audited?

Garry,

Greatly appreciate your sage input.