London Daily

Focus on the big picture.
Thursday, Jul 10, 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
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×