💎 The G7 countries are set to discuss four potential options for banning the supply of Russian diamonds to their markets starting on January 1, according to Reuters, citing informed sources. These proposals range from lighter self-regulation to stricter import measures and have been put forth by Belgium, India, the French Jewelry Industry Group, and the World Diamond Council.

It's important to note that the G7 countries collectively represent 70% of the global demand for diamonds, while Russia holds the position of the world's largest producer of raw diamonds, with a 30% market share. This development could have significant implications for the diamond industry.