According to data from the Kimberley Process, Russia has achieved a milestone by producing over a third of the world's natural diamonds in 2022.
Together with African countries, Russia now dominates almost 90% of the global market.
Reports suggest that the G7 nations, followed by the EU, are planning to impose sanctions on Russian diamonds in the near future. However, during a recent private presentation in the United States, major players in the diamond market expressed disapproval of the proposed restrictions.