Expert explains why US eased sanctions against Russian diamonds
The analyst suggested the purpose for which the US Treasury Department introduced concessions regarding Russian diamonds.
This could have been done for the sake of India, which is the world's diamond processing centre.
Leading analyst of the investment company Veles Capital Vasily Danilov gave this comment to RIA Novosti journalists.
Earlier, the US Treasury Department issued an order that the import of Russian diamonds would be extended until September 1, 2025.
As Danilov emphasized, such concessions could be made in favor of India. This country is heavily dependent on the import of raw materials of Russian origin.
Moreover, it is India that then exports diamonds to developed countries, including the United States, which accounts for a third of all demand for jewelry with precious stones.
Danilov did not rule out that the introduced relaxations will not have a strong impact on diamond miners and on world prices in general. This is because the US does not participate in the market either as a major diamond cutter, which India is, or as an intermediary, which is the role played by Belgium.
