New York—The impending G7 ban on Russian diamonds has stirred significant concern within the diamond industry, prompting a pivotal webinar hosted by the heads of Sarine Technologies and Tracr, De Beers’ blockchain platform.
Scheduled for Wednesday, March 20, at 12 p.m. EDT, Sarine Technologies CEO David Block and Wesley Tucker, CEO of Tracr, will spearhead the discussion on this critical topic. Angelo Palmieri, president of GCAL by Sarine, will serve as the moderator.
The G7 nations, comprising the United States, United Kingdom, Japan, France, Germany, Italy, and Canada, announced the ban in early December following nearly a year of deliberations. Effective January 1, 2024, member countries will prohibit the import of diamonds originating from Russia, regardless of where they were processed or produced. The scope of the ban expanded on March 1 to encompass diamonds mined in Russia but subsequently cut and polished in other countries.
The webinar aims to equip retailers with insights on leveraging the integrated solutions offered by Sarine and Tracr to mitigate supply chain disruptions and optimize operational efficiency. Tucker and Block will provide practical guidance and strategies to help retailers maintain competitiveness amidst evolving regulatory landscapes.
Angelo Palmieri emphasized the significance of the webinar, stating, “In an evolving landscape shaped by the latest G7 regulations, the diamond industry stands at a pivotal juncture. Our upcoming webinar, ‘G7 Sanctions: What Retailers Need to Know: Diamond Traceability Insights with Sarine and Tracr,’ promises to be an invaluable resource for retail jewelers seeking to learn, prepare, and adapt their businesses to the new regulatory environment.”
The webinar is open to all interested parties at no cost.
