Shai Schnitzer Elected President of the Israel Diamond Exchange
Shai Schnitzer was elected president of the Israel Diamond Exchange in Ramat Gan, continuing a three-generation family legacy as the sector faces declining exports and US tariffs.
Shai Schnitzer was elected today as the president of the Israel Diamond Exchange in Ramat Gan, succeeding Nissim Zuaretz, who was elected in 2024. Schnitzer, 47, head of S. Schnitzer Diamonds, is a third-generation diamond dynasty member with 25 years of industry experience. He previously ran for the presidency in 2021, losing to Boaz Moldawsky.
Schnitzer is the son of Shmuel Schnitzer, who served two terms as exchange president, and the grandson of Moshe Schnitzer, one of the exchange's founders, who led it for many years. He assumes office during a challenging period for the Israeli diamond sector, which faces declining exports and US tariffs. According to CBS data, diamond processing exports dropped from $4.9 billion in 2024 to $3.6 billion in 2025. In the first half of 2026, net polished diamond exports fell by an additional 22.3% to $626 million.
Upon his election, Schnitzer stated that his top priorities will include fighting US tariffs, implementing the tax agreement with the tax authority, strengthening business activity, and promoting solutions for building occupancy in the exchange complex. Last month, the exchange and the tax authority signed a new tax agreement for 2027–2028, allowing diamond dealers to pre-determine taxable income at 1.3% of turnover.
«The diamond industry is facing significant challenges, and the work starts now,» Schnitzer said. «My top priorities will include the fight to cancel American tariffs, implementing the tax agreement, and strengthening business activity.»
Schnitzer added that he intends to work with the government, banks, and global partners, pledging serious work, listening, and transparency to strengthen the industry for the next generation.
