"Western countries, including the United States, said that you must make sure the diamonds you are polishing are not of Russian origin", Zilariya said. "The outcome... has severely affected India's diamond industry, as part of which the Gujarat diamond industry has been forced to cut production".
"The policy of cutting production has had a direct impact on the workers in the diamond industry, due to which inflation is increasing on the one hand and on the other hand the wages of those working in the diamond industry are falling, due to which many workers are committing suicide", Zilariya said.
DIAMOND SHORTAGE EXPECTED IN FALL
"At this point, diamond manufacturers everywhere are slowly backing away from Alrosa's diamonds because of consumer pressure and retailers' desire to be able to tell their clients that the diamonds they are offering are not sourced from Russia," veteran diamond industry analyst Edahn Golan told Sputnik. "In addition, banks are refusing to be involved in the trade in Alrosa's goods, even if the transaction takes place in a country not sanctioning Russia. None of the banks is willing to risk their license to operate in the US."