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Including, which have a good 40 % surcharge, a good diamond broker would need to pay $step 1,400 instead of $step 1,100 to own a small lot of diamonds; however, in case your surcharge try withdrawn, the fresh diamonds would be worth simply 1000 bucks. The new Israeli banks could not manage to progress 80 per cent from a purchase price you to definitely integrated the fresh very-called surcharge; it therefore expected a lot more equity away from buyers and you can investors. Subsequent, they began, under some pressure of De Drinks, to raise rates on the an excellent finance. In early 1977, Sir Philip Oppenheimer dispatched their man Anthony so you can Tel Aviv, followed by almost every other De Drinks professionals, so you can announce you to De Beers intended to slice the Israeli quota out of expensive diamonds by the no less than 20% inside the year ahead.

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