Hayk Harutyunyan | Dreamstime.com	Enlarge
Red Square, Moscow, Russia

In the wake of the publication of the news about a massive new diamond deposit in Russia, we asked the Avraham Traub, President of the Israel Diamond Manufacturers Association, for a response:

 

"Yesterday evening, when the Jewish new year holiday ended, I received many phone calls in the wake of a news item that was publicized in the media about a new diamond deposit in Russia.

 

"According to this news item, the deposit contains an unlimited amount of diamonds for thousands of years hence. There is no doubt that Russia, the biggest country in the world, has been blessed with an abundance of mines and many great natural resources, and as you know it also has an abundance of diamonds.

 

"According to sources in Moscow who are in the know, who I have conversed with a number of times, the report was wrongly inserted into the news cycle, as it is without merit. The deposit does in fact exist in Russia for many years now, but nothing has changed. I hope that in the days to come we will receive more clarifications about the news item. There is no reason to think that in the near future it will have any significant impact on the diamond trade. I'm telling you to continue working and continue smiling and supporting your households."