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Russia doesn’t want synthetics to be passed off as natural diamonds - Russia’s Ministry of Finance

11 january 2019

Russia’s Vice Minister of Finance Aleksey Moiseev disclosed Russia’s views and intentions regarding synthetic diamonds in his interview with the Praim agency following the Russian Federation becoming Vice Chair of the Kimberley Process (KP) from January 1, 2019 and turning its Chair in 2020.
Answering the question why Russia put forward itself for the post of KP Chair, Moiseev said that Russia is concerned about blending synthetics to natural diamond parcels and intends to take measures to tackle this problem.
‘‘We are for fair and competitive global trading. We want, first of all, nobody to sell synthetics passing it off for natural stones,’’ he said. 
That is why, according to the interview, Russia intends to focus on diamond traceability strategy providing the provenance of diamonds from mine to stores in order to confront illegal diamond trading. 
Moiseev added that major diamond companies show their concern about lab-grown diamond injections in natural diamond markets. According to experts, he said, such blending accounts for about 20% of all polished diamonds traded globally. 
However the Vice Finance Minister also noted that in the end synthetic diamonds will take their place in global market and there is no need to fight against that, on the contrary it is important to try to take up regulatory activities to provide consumers with the guaranty of the product they buy - synthetic stones or natural diamonds. 

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg