US tells G7 world leaders Iran could attack Israel in next 24 hours: Report
There is growing fear that a major escalation is imminent in the Middle East conflict. Axios reported that U.S. Secretary of State Antony Blinken informed G-7 leaders on Sunday, Aug. 4, that Iran and Hezbollah might attack Israel within the next 24 hours.
Such an attack could significantly alter the conflict, potentially involving more nations in a full-scale war. This includes the U.S., which is closely monitoring Iran’s movements.
The commander of U.S. Central Command, Gen. Michael Kurilla, is expected to arrive in Israel Monday to coordinate with Israel Defense Forces ahead of a possible attack on Israeli soil, which, according to Blinken, could occur as soon as the same day.
Last week saw major escalations that have brought the situation to a critical point. These included Israel’s elimination of Hezbollah’s military commander in Beirut and the assassination of Hamas’ political leader on Iranian soil, which Iran and Hezbollah attribute to Israel. Israel has not commented on the assassination. Iran has now indicated that some form of retaliation is imminent, although its specifics remain unclear.
Blinken has urged G-7 countries to exert pressure on all sides to prevent further violence, with the primary goal of avoiding a broader conflict. The U.S. has warned Iran any significant strike on Israel would illicit a response. The U.S. has increased its military presence in the region.
“Israel is now in a multifront war against the Iranian axis of evil,” Israeli Prime Minister Benjamin Netanyahu said on Sunday. “Iran and its minions are looking to surround us in a stranglehold of terrorism. Whoever seeks to harm us will pay a very heavy price.”
Over the weekend, U.S. and Arab diplomats urged Iran to moderate its response against Israel. Iranian leaders reportedly told Arab diplomats that it doesn’t matter to them if their retaliation leads to a larger war. Iran’s Foreign Ministry has stated it does not seek to escalate tensions but insists that “punishment is necessary.”
What is a ‘cheap fake’? The latest polarizing term this election
What is a “cheap fake” video? That depends which political party is explaining this latest polarizing point of conversation.
Left-leaning news outlets are calling cheap fakes “misleading videos” that are used by the right to misrepresent President Joe Biden. Right-leaning news outlets said cheap fakes is a term made up by the left to protect the president’s image amid a series of viral Biden videos.
The term gained popularity after White House press secretary Karine Jean-Pierre addressed the controversial videos.
“I think you all have called this the cheap fakes video and that’s exactly what they are, they are — cheap fakes video,” Jean-Pierre said during a press conference. “They are done in bad faith and some of your news organizations have been very clear that right-wing critics of the president have a credibility problem. Because of the fact checkers have repeatedly caught them pushing misinformation — disinformation.”
Multiple left-leading news outlets referred to the videos as “misleading.”
NBC News:“Misleading GOP videos of Biden are going viral.”
The Washington Post: “How Republicans used misleading videos to attack Biden in a 24-hour period.”
Headlines from right-leaning news outlets accused the left of making excuses for Biden by referring to the videos as cheap fakes.
New York Post: “White House makes wrong claims while accusing Post of misreporting videos.”
Fox News: “Liberal media outlets ‘running cover’ for Biden by calling viral clips cheap fakes.”
The Daily Wire: “Media goes all in on White House’s cheap fakes narrative.”
In one viral video, Biden breaks away from a group of world leaders at the G7 Summit during a parachuting presentation.
The New York Post and other right-leaning outlets uploaded a video and described Biden as “wandering off.” MSNBC and others on the left noted the president was “greeting a parachutist,” posting a video showing the event more clearly from a different angle.
Another example comes from a D-Day ceremony in France. The New York Post called it “an awkward moment” as the president went to sit without anyone else joining him. Some on the right claimed there was no chair behind him, even though there was.
Those on the left point to a longer clip that shows everyone — including Biden — sitting for the ceremony moments later.
A third video shows Biden on stage with former President Barack Obama at a recent Hollywood fundraiser.
The right-leaning New York Post described it as Biden “appearing to freeze up on stage” with Obama then “escorting” Biden out. Conversely, NBC and others on the left classified it as Biden “staring into the audience for a moment” before “Obama signaled it was time to leave the stage.”
There are multiple other videos that have gone viral, causing debate as different interpretations emerge.
Biden is usually the subject of these viral clips, but there are some of former President Donald Trump circulating as well.
For example, A viral image of Trump locking hands with his son Don Jr. prompted online speculation that he needed to be guided off stage, however, a video shows that the interaction was actually a quick handshake between the two.
Being in a digital age comes with campaign advantages, allowing candidates to reach millions of people with one post or raise millions of dollars with the click of a button. On the other hand, character attacks from a misinterpreted image or video online can happen just as quickly.
The Supreme Court issued its first major ruling on abortion in two years. And former President Donald Trump returns to Capitol Hill, holding separate meetings with Senate and House Republicans. These stories and more highlight The Morning Rundown for Friday, June 14, 2024.
Supreme Court preserves access to abortion pill
In a unanimous decision, the U.S. Supreme Court rejected a challenge to the Food and Drug Administration’s regulation of the abortion pill Mifepristone on Thursday, June 13. That means the commonly used drug will remain widely available.
Last year alone, Mifepristone was used in nearly two-thirds of all abortions in the U.S.
The nine justices ruled abortion opponents lacked the legal right to sue over the FDA’s approval of the medication because they are not directly impacted by Mifepristone being on the market for others.
The Supreme Court is also considering another abortion case centering on whether a federal law on emergency treatment at hospitals overrides state abortion bans in rare emergency cases when a pregnant woman’s health is at risk.
Senate Republicans block Democrats’ bill to protect IVF access nationwide
Senate Republicans blocked legislation Thursday that would codify in vitro fertilization nationwide after Democrats forced a vote on the matter. The bill failed to advance in a vote of 48 to 47. It needed 60 votes to move forward.
Just two Republicans voted in favor of the bill: Sen. Lisa Murkowski of Alaska and Sen. Susan Collins of Maine.
Others in the GOP said the Democrats’ legislation was unnecessary as there are no restrictions to IVF in any state. Democrats were pushing to guarantee IVF protections in case states were to ever try and prohibit it in the future.
Thursday’s vote came after a landmark ruling by Alabama’s Supreme Court earlier this year, saying frozen embryos are children and those who destroy them can be held liable for wrongful death. The ruling put a stop to treatments for a week while the state quickly worked to clarify its reproductive laws protecting IVF patients and doctors.
Republicans have signed on to a scaled-back version that would cut off Medicaid funding for states if they banned IVF, which Democrats say does not go far enough to protect access.
Trump makes first visit to Capitol Hill since Jan. 6 riot
Former President Donald Trump was back on Capitol Hill Thursday — for the first time since the Jan. 6, 2021 riot — as Republicans welcomed the presumptive 2024 GOP presidential nominee. It also marked the former president’s first visit to Washington since he was convicted of 34 felony counts by a New York jury at the end of May.
Trump spent about an hour each with House and Senate Republicans delivering remarks, fielding questions and discussing issues like Russia, immigration, tax cuts and other priorities for a potential second term.
“We have to get elected,” Trump said during a press conference. “We have to take this, this beautiful place, and we have to make it really something very special again. Right now — it’s not special right now. It’s being scorned and being used as an example of when they look at the crime on the streets, when they look at all of the problems that we have, they’re using us as a bad example of democracy.”
Hamas official says it is not known how many hostages are still alive
As negotiators continue to try to finalize a deal between Israel and Hamas for a cease-fire and hostage release, a senior leader for Hamas says they don’t know how many of the hostages are still alive. There are said to be 120 hostages who have not returned home since the initial attack on Oct. 7, 2023, by the terrorist group.
Israel believes more than 70 of the 120 hostages are still alive.
In an interview that aired Thursday, June 13, with CNN in Beirut, Hamas spokesman Osama Hamdan was asked about the fate of the hostages.
“I don’t have any idea about that,” Hamdan said. “No one has any idea about this.”
Hamdan said the latest cease-fire proposal, announced by President Joe Biden last week and backed by the United Nations Security Council, was a “positive step” but did not meet Hamas’ demands to end the war.
“We need a clear position from Israel to accept a cease-fire, a complete withdrawal from Gaza, and let the Palestinians determine their future by themselves,” Hamdan said.
The latest cease-fire plan called for the release of the hostages and the full withdrawal of Israeli troops in three phases.
Previously, Secretary of State Antony Blinken called some of Hamas’ proposed changes to the ceasefire plan “unacceptable.”
Day 2 of G7 summit to focus on immigration
Friday is the second day of the G7 summit in Italy and world leaders are turning their attention to immigration. President Biden and the other G7 leaders will be joined by leaders from other nations including Brazil, India and Turkey.
The gathering will also focus on global conflicts and the spread of artificial intelligence with Pope Francis set to deliver a speech on AI to the group. Ongoing issues like climate change and China also will be discussed.
On the first day of the summit Thursday, attendees promised tens of billions of dollars in aid for Ukraine as its war with Russia continues. President Biden also signed a 10-year security agreement with Ukrainian President Volodymyr Zelenskyy.
Reports: Big 12 exploring selling name rights to title sponsor
We are all familiar with college football bowl games having sponsors — like the Allstate Sugar Bowl or the Cheez-It Citrus Bowl. Now, reports indicate a naming rights partnership might be on the way not for another game, but a conference.
According to multiple outlets, the Big 12 conference is exploring selling its naming rights to a title sponsor. This would be the first deal of its kind, reportedly worth hundreds of millions of dollars.
Reports say the conference would drop “Big” from its name and keep the “12”, and with the Allstate insurance company being the current frontrunner as a potential sponsor, the conference could end up being called “the Allstate 12” conference.
Talks are ongoing, as this upcoming season, the Big 12 will see more teams joining the conference — creating a 16-member league.
US, Ukraine set to sign 10-year security pact at G7 summit
President Joe Biden is in Italy Thursday, June 13, for the G7 summit, where he is expected to sign a 10-year bilateral security pact with Ukraine. This agreement is said to better strengthen the long-term security relationship between the two nations, with commitments to continue training Ukrainian armed forces, enhance weapons production cooperation and increase intelligence sharing.
The G7 is an informal group that holds an annual summit where leaders from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States come together to discuss economic policy and security issues. Ukrainian President Volodymyr Zelenskyy is also joining.
Today is the G7 Summit in Italy, a meeting of our closest partners. Much of it will be dedicated to Ukraine, our defense, and economic resilience. And we look forward to important decisions today.
For us, the main issues are developing fighter jet coalition, expediting pilot…
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) June 13, 2024
The G7 leaders are also set to endorse a plan to provide Ukraine with $50 billion in loans, using frozen Russian assets to fund the initiative.
White House National Security Advisor Jake Sullivan mentioned that, while the major aspects of the plan have been agreed upon, some details will still need to be finalized.
Additionally, on Wednesday, June 12, the U.S. expanded its sanctions against Moscow to include Chinese companies that supply semiconductors. This move aims to pressure Beijing over its support for Russia and address issues of industrial overcapacity.
The summit will also address other critical global issues, including the middle east, migration, and artificial intelligence.
Attorney General Merrick Garland held in contempt of Congress
The head of the Department of Justice, Attorney General Merrick Garland, held in contempt of Congress. And “life-threatening” flooding in south Florida as more torrential rain is expected Thursday. These stories and more highlight The Morning Rundown for Thursday, June 13, 2024.
Attorney General Merrick Garland held in contempt of Congress
In an effort led by Republicans, the U.S. House voted to hold Attorney General Merrick Garland in contempt of Congress Wednesday, June 12. Lawmakers also voted to refer the top Department of Justice official for criminal charges.
It comes after Garland refused to turn over audio recordings of President Joe Biden’s interviews with former special counsel Robert Hur as part of the probe over his handling of classified documents.
The 216-207 vote fell along party lines, with only one Republican, Rep. David Joyce of Ohio, voting against it.
The vote marks a major escalation in a months-long dispute over the recordings — which started after President Biden asserted executive privilege over the files. The DOJ has stood by the decision not to release the recordings, saying they’ve already provided transcripts.
DOJ officials wrote in an affidavit the transcripts accurately match the audio “except for minor instances” — like leaving out filler words or when words were repeated when spoken.
House Republicans argue the recordings are crucial to their impeachment inquiry into the president, which has stalled.
“He is refusing to comply with a lawful subpoena,” Republican House Speaker Mike Johnson said of AG Garland. “And that’s a problem under Article I. We have to defend the Constitution. We have to defend the authority of Congress. We can’t allow the Department of Justice, an executive branch agency, to hide information from Congress. We have important oversight responsibilities, and that is what is being pursued here.”
Attorney General Garland responded to the decision to hold him in contempt late Wednesday night saying, “It is deeply disappointing that this House of Representatives has turned a serious congressional authority into a partisan weapon. Today’s vote disregards the constitutional separation of powers, the Justice Department’s need to protect its investigations and the substantial amount of information we have provided to the committees.”
U.S. and Ukraine set to sign 10-year security pact at G7 summit
President Joe Biden is in Italy Thursday, June 13, for the G7 summit, where he is expected to sign a 10-year bilateral security pact with Ukraine. This agreement is said to better strengthen the long-term security relationship between the two nations, with commitments to continue training Ukrainian armed forces, enhance weapons production cooperation and increase intelligence sharing.
The G7 leaders are also set to endorse a plan to provide Ukraine with $50 billion in loans, using frozen Russian assets to fund the initiative.
White House National Security Advisor Jake Sullivan mentioned that while the major aspects of the plan have been agreed upon, some details will still need to be finalized.
Additionally, on Wednesday, June 12, the U.S. expanded its sanctions against Moscow to include Chinese companies that supply semiconductors. This move aims to pressure Beijing over its support for Russia and address issues of industrial overcapacity.
The summit will also address other critical global issues, including the Middle East, migration and artificial intelligence.
ACLU sues Biden administration over new asylum rule
The Biden administration is facing its first lawsuit over President Joe Biden’s recent order temporarily shutting down the U.S.’ southern border. The lawsuit, filed by the American Civil Liberties Union on behalf of a coalition of immigrant advocacy groups, is the first big challenge to the executive order put in place just over a week ago.
The restrictions bar migrants from seeking asylum when border encounters rise above 2,500 per day.
In its first week implemented, the number of migrants crossing has fallen by 25%, according to Department of Homeland Security officials. However, the number of migrants coming over is still more than the number allowed — about 3,000 per day.
The executive action was meant to make illegal border crossers ineligible for asylum, but officials say thousands of migrants a day are still being released into the U.S. because of “limited options.”
The lawsuit did not seek an emergency injunction to block the new rule, so it will stay in place while the challenge plays out in court.
Federal Reserve holds interest rates steady
The Federal Reserve held interest rates steady Wednesday, June 12, potentially delaying any rate cuts until December. Fed Chair Jerome Powell, speaking after a two-day policy meeting, said the U.S. economy’s growth and unemployment rates are performing better than long-term sustainable levels, prompting the decision to maintain the current rate.
During a press conference, Powell said inflation has been decreasing without severely impacting the economy and he anticipates this trend could continue. The Fed plans a gradual return of inflation to its 2% target.
“We know that reducing policy restraint too soon or too much could result in a reversal of the progress that we’ve seen on inflation,” Powell said. “At the same time, reducing policy restraint too late or too little could unduly weaken economic activity and employment. In considering any adjustments to the target range for the federal funds rate, the committee will carefully assess incoming data, the evolving outlook and the balance of risks.”
Powell said while some details of future rate cuts are still being finalized, the timing of these cuts will depend on a range of economic data, including labor market health and growth projections.
As the Fed’s latest interest rate announcement was made, Straight Arrow News’ own Simone Del Rosario and former Kansas City Fed President Thomas Hoenig had live analysis of the future of monetary policy. You can watch that here.
‘Life-threatening’ flooding in south Florida
For the third day in a row, heavy rain is threatening more destructive flooding in south Florida Thursday, June 13. It comes after storms turned streets into rivers and water rushed into homes, Wednesday, June 12.
Florida Gov. Ron DeSantis, R, declared an emergency for five counties after dangerous flooding immobilized the operations of critical infrastructure, including major interstates, roadways, schools, and the Miami and Fort Lauderdale airports.
On Tuesday night, June 11, a record-breaking eight inches of rain hit Florida’s west coast in just three hours.
Flood watches are in effect through Friday night, June 14, across south Florida, which is the state’s most populous area, as more rounds of heavy rainfall are expected.
Meteorologists say many parts of the state are likely to see double-digit rainfall totals by the time the storms fully pass.
Russian warships conduct drills 100 miles off coast of Florida
Three Russian warships and a nuclear-powered submarine conducted drills Tuesday, June 11, in the Atlantic Ocean while en route to Cuba. The Russian defense ministry said the drills involved simulated attacks on distant mock targets.
The Russian fleet arrived in Cuba Wednesday, June 12, just 100 miles from Florida’s Key West. It’s set to move to Venezuela on Monday, June 17.
These exercises mark the first joint Russian naval and air maneuvers in the Caribbean since 2019.
Despite the proximity, Cuba has assured these visits are routine among allies and the vessels carry no nuclear weapons, posing no threat to the region.
The White House views these drills as Russia’s response to U.S. support for Ukraine but does not see them as a threat to U.S. national security.
Israeli war cabinet meets after Iran’s direct attack
After Iran’s unprecedented attack on Israel over the weekend, the world awaits the next move by the two countries. For the first time in history, a former U.S. president will stand trial on criminal charges, as Donald Trump’s hush money trial begins. These stories and more highlight The Morning Rundown for Monday, April 15, 2024.
Israeli war cabinet meets after Iran’s direct attack
Iran launched an unprecedented assault on Israel over the weekend, marking the first time Iran has directly targeted Israel from its own territory. The attack was reportedly in retaliation for a suspected Israeli airstrike on Iran’s embassy in Syria that killed top commanders two weeks ago.
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Israel’s military — along with allies from the U.S., Great Britain, France and Jordan — intercepted nearly all of the 350 missiles and drones launched by Iran on Saturday, April 13.
Israeli Prime Minister Benjamin Netanyahu convened his war cabinet on the evening of Sunday, April 14, but no decision has been made yet on how Israel will respond as the world awaits its next move.
The attacks lasted around five hours.
The Israeli Defense Forces issued a statement on Sunday about the defensive operation that intercepted most of the missiles outside Israeli borders.
“Together, we intercepted 99% of the threat toward Israel,” Rear Admiral Daniel Hagari, an Israeli Military Spokesperson said. “Together, we thwarted Iran’s attack. Iran’s unprecedented attack was met with an unprecedented defense. This was the first time that such a coalition worked together against the threat of Iran and its proxies in the Middle East.”
A 7-year-old girl suffered the most serious injuries in the attack, critically wounded by a missile fragment that tore through her family’s home.
An Israeli Air Force base was hit but continued to operate.
Following the barrage of strikes, Iranian officials stated they “deemed the matter concluded” but warned of a more severe response to any future Israeli actions against Iranian interests.
Biden, G7 leaders hold meeting on Iranian attack in Israel
In a phone call with Israeli Prime Minister Benjamin Netanyahu, President Joe Biden congratulated him on the defensive operation against Iran’s attacks. U.S. officials reporting the president added the U.S. would not participate in a counter-offensive against Iran.
White House National Security spokesperson John Kirby said that the U.S. does not seek a wider conflict, but did not confirm those reports.
Biden also convened with leaders of the Group of Seven nations in a virtual meeting on Sunday, April 14.
The leaders of the U.S., Britain, Canada, France, Germany, Italy and Japan issued a joint declaration condemning the attack and expressing their full solidarity and support for Israel.
They criticized Iran’s actions for destabilizing the region and demanded that Iran and its proxies end their attacks.
UN Security Council holds emergency meeting amid fears of growing war
Iran’s attack on Israel prompted an emergency meeting of the United Nations Security Council amid fears of escalating conflict in the Middle East. Israel requested the meeting on Sunday, April 14.
The U.N. secretary-general said it was “time to step back from the brink” and called for the United Nations to actively engage with all parties to prevent further escalation in the region. Ambassadors from both Israel and Iran attended the meeting.
Israel’s ambassador urged the council to issue “crippling” sanctions against Iran, accusing the country of crossing “every red line.” Iran’s ambassador defended Iran’s actions, stating Iran had the right to defend itself following a deadly strike on its embassy in Syria.
איראן היא המפירה הגדולה בעולם של זכויות אדם. אסור לה לקבל יותר שום עמדה באו״ם. והמועצה חייבת לגנות את הטרור האיראני, להטיל על איראן סנקציות משתקות ולהכריז על ״משמרות המהפכה״ כארגון טרור. לא למען ישראל, אלא למען העולם כולו. חייבים לעצור את איראן עכשיו! צפו ורטווטו >> pic.twitter.com/aCbH79nqFJ
— Ambassador Gilad Erdan גלעד ארדן (@giladerdan1) April 15, 2024
Both the Iranian official and the U.S. representative at the U.N. stated they do not seek war but would respond to attacks on their interests.
Historic Trump hush money case begins with jury selection
Jury selection for former President Donald Trump’s hush money trial begins Monday, April 15, in New York, marking the start of the first criminal prosecution of a former U.S. president. The trial centers on allegations that, just days before the 2016 presidential election, Trump falsified business records to conceal reimbursements for hush money payments that could potentially affect the election’s outcome.
Trump has pleaded not guilty and denies any affair with adult film star Stormy Daniels, claiming the trial is a witch hunt.
https://www.youtube.com/watch?v=Cs_HRIWIrIU
“Well, you know, jury selection is largely luck,” Trump said on Friday, April 12. “It depends who you get. It’s very unfair that I’m having a trial there. It’s very unfair that we have this judge who hates Trump, and has tremendous conflict, as, you know, tremendous conflict.”
Trump faces 34 counts of falsifying business records. If found guilty, he could face a maximum of four years for each count. Jury selection is set for today and is expected to last at least a week.
“Nobody can believe that this judge isn’t recusing himself,” Trump continued. “The conflict is at a level that nobody’s ever seen before. So I have that and I have venue. We have all of these things that we’ve asked for. They don’t give us anything. It’s a witch hunt that takes place in New York and that is taking place. And it’s very bad for New York, and it’s very bad, and it’s very bad for the judicial system in New York.”
“I’m testifying,” Trump added. “I tell the truth. I mean, all I can do is tell the truth, and the truth is that there’s no case, they have no case. And again, you have to read the scholars, read all of the legal scholars. I haven’t seen one legal scholar that said this is a case. And in fact, even you people said, oh gee, that’s too bad. This the first one. All of them are scams.”
The former president is facing three additional criminal trials in federal court and in Georgia, addressing serious charges including election interference, conspiracy and mishandling classified documents after leaving office.
IRS receives over 100 million tax returns as deadline approaches
For the first time since 2019, April 15 is the deadline to file income tax returns. The IRS reports it has already received more than 100 million tax returns and expects tens of millions more today.
April 15 is also the deadline to file for an automatic extension, with the IRS estimating 19 million taxpayers will request one, although tax payments are still due today.
However, taxpayers in Maine and Massachusetts have until April 17 to file their taxes due to the observances of Patriots Day and Emancipation Day.
According to a 2023 Pew Research study, about half of Americans are frustrated by the complexity of the federal tax system, with 53% saying it bothers them a lot, 32% saying it bothers them some and 13% saying it doesn’t bother them much at all.
Scottie Scheffler wins Masters Tournament for second time in three years
For the second time in his career, American golfer Scottie Scheffler earned the right to wear the coveted green jacket by winning the 2024 Masters Tournament on Sunday.
Scheffler, who also won the 2022 Masters, is the 18th golfer to win the tournament multiple times and the fourth-youngest to achieve that feat.
How ‘sanctioned’ Russian diamonds made their way to the US
For two years now, Ukraine has battled for its sovereignty. Russia’s invasion is reducing cities to rubble and thousands of civilians have died in the conflict. A new report said Russia can sustain its assault for another two to three years, maybe even longer. Did diamonds purchased in the U.S. help pay for this war?
Russia produces about a third of the world’s diamonds. Those diamonds bring in an estimated $4 billion per year. While President Joe Biden did sanction imports of Russian diamonds in March 2022, the order carried little consequence.
“The first thing they did, which is typical of government, is they fudged it,” said Martin Rapaport, founder and chairman of the Rapaport Group, a primary source of global diamond prices.
“You got to take an understanding of what’s going on here,” he said. “India is buying almost all of those Russian diamonds and cutting them in India. So when the president used the phrase, Russian origin, it was a whitewashing exercise because all the diamonds are cut anyways in India, and once they’re cut in India, they’re no longer Russian origin. Now they’re Indian origin.”
Roughly 90% of the world’s rough diamonds are cut and polished in India. India is a strategic partner of the U.S., which makes any action on diamonds politically challenging.
In 2024, the U.S. is ready to close the loophole. The Treasury Department announced changes to these diamond sanctions to include those that are “mined, extracted, produced or manufactured wholly or in part in the Russian Federation.” In other words, diamonds with any history in Russia fall under the rule.
On March 1, the ban goes into effect for non-industrial diamonds 1 carat or greater. By September, it includes diamonds weighing half a carat. The latest sanctions are not just from the U.S. but done together with G7 nations. G7 nations are giving themselves until September to announce a system to trace the gems’ origins.
“Now we have all these self-interested foreign parties who are literally pigging out on the idea that they can control the diamond markets,” Rapaport said.
Belgium wants all diamonds to be certified through Antwerp, known as the diamond capital of the world. It’s a proposal the diamond industry is pushing hard against. De Beers CEO Al Cook warned Bloomberg about potential unintended consequences.
“We certainly believe that we should avoid a single node, a single place of certification, and instead we should allow African countries that have produced ethical diamonds for decades to have the freedom to export those diamonds where they want in the world,” Cook said.
Anything else, Cook warned, could make ethical diamonds far more expensive.
“We all want to be in a situation where we can have sanctions that are effective and efficient,” Rapaport said.
Rapaport has proposed the U.S. use existing blockchain technology, like Tracr, which tracks diamonds from mine to market. A diamond may change hands a dozen times or more in this journey.
“So United States Customs can sit back and say, ‘Oh, you’re importing diamonds, give me the number, give me the Tracr number for this diamond,’ and they can see the entire supply chain,” he explained. “So even if it came from a legitimate mine but it was handled or traded somewhere by a sanctioned entity, bingo, the United States says these diamonds cannot come into the United States.”
Rapaport’s proposed U.S. Diamond Protocol would put the onus on the government to clear diamond imports, not jewelers. It’s a proposal he’s also shared with G7 countries.
If achieving effective sanctions on Russian diamonds were easy, it likely would not have taken two years of war to get to this point. But now G7 is months away from requiring a process with real prongs.
