London Daily

Focus on the big picture.
Saturday, May 31, 2025

Tracking Putin’s diamonds: G7 push to ban Russian gems gathers pace

Tracking Putin’s diamonds: G7 push to ban Russian gems gathers pace

Officials hail new technical breakthrough in effort to trace Russian diamonds.

G7 countries are pushing ahead with plans to agree to ban sales of Russian diamonds when the group's leaders meet for a summit next month, amid growing hopes that new technology will enable authorities to track the gems around the world.

The European Union has so far stopped short of sanctioning diamonds from Russia, which are playing a part in financing Vladimir Putin's war in Ukraine, amid concerns that an embargo would hit the Belgian city of Antwerp, a major international diamond trading hub.

Instead, G7 governments are preparing an international ban on selling the products. Preparations are well on track to announce more details at the summit in Japan starting on May 19, a European government official involved in the negotiations said.

One of the main goals of this coordinated G7 push is to stop sanctions being circumvented, for example by importing Russian diamonds which have first been processed and relabelled elsewhere in the world. The Swiss company Spacecode now claims to have a solution to that problem: a new device that can identify which region of the world individual diamonds come from.

Spacecode is already well known for its tracking work in the global diamond industry. In parallel, the company has been working on a next step to determine the "diamond DNA," as knowing the exact origin of diamonds is key for the industry, said Pavlo Protopapa, who is chairman and CEO of Spacecode.

According to him, Spacecode now has the technology to trace the provenance of diamonds by understanding the morphology — the chemical composition and the optical properties of a diamond – because stones from certain regions have similar characteristics.

By understanding those unique characteristics, Spacecode's device would immediately determine the origin of a stone — even if it was not registered earlier in the supply chain. "Diamonds are mixed all the time," Protopapa said. "The only way you can check that is by using Spacecode technology."

The official mentioned above said the technology is "revolutionary" and could be of key importance in the practical roll-out of the upcoming G7 decision.

Spacecode itself has no political allegiance, Protopapa stressed. "We just state what the origin of a diamond is. Whether it's accepted by another country or not, is not up to us to decide."


Obstacles ahead


That's not to say it's a done deal. One question is when the technology will be ready to roll out in time, as Ukraine's supporters want to impose the Russian diamond ban as soon as possible.

Spacecode's devices will not be sold for the first time until the end of this year or even the first quarter of 2024. If that's successful, the company aims to sell its products on the mass market by the end of 2024.

For Protopapa, that shouldn't necessarily be a problem, as the industry will need time to absorb such a change. He also hinted the process might be accelerated if necessary. "I want the green light. I want the phone call: 'listen, you’re the closest to anyone having the tech, go for it.' And then we'll put our head down," he said.

Russian soldiers run along Red Square in central Moscow


The European official mentioned earlier also said the timing doesn't have to be a problem, as other sanctions on Russian products also worked with transition periods to give industries space to adjust. "It is so revolutionary that you risk a lot of resistance from the sector," the official said.

Tom Neys, a spokesperson for the Antwerp World Diamond Centre, warned the sector will not accept "rubber-stamping solutions."

"If you want a real working solution to keep Russian diamonds off the market you need a watertight and verifiable solution that can determine the origin of a stone. We go for nothing less," Neys said.

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×