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Search Results - Diamonds, Russia Ukraine Conflict

your search of 'Diamonds, Russia Ukraine Conflict' has 13 results.

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The new sanctions directive also covers companies owned by international conglomerates directly importing rough and polished diamonds from Russia that were previously not explicitly covered by the sanctions by the US issued in March.

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US imposes crippling sanctions on Alrosa; congress asks to close loopholes

In what could be a significant blow to Russia, the US has designated state-run mining company Alrosa in its Specially Designated Nationals (SDN) roster, which increases sanctions that carry substantial economic impacts on Russian companies. Read more »
“The World Federation of Diamond Bourses (WFDB) is deeply concerned over the loss of life and suffering that is inflicted on so many as a result of the conflict in Ukraine” – WFDB Statement

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Moscow out of World Federation of Diamond Bourses

The Moscow Diamond Bourse has suspended its membership of the World Federation of Diamond Bourses. Read more »
The key causes for this dip in pricing for rough remains open to investigation. It may indicate a steady flow of non-Russian product being made available to the market as economic sanctions are placed on Alrosa from European and US sources. Source: Alrosa

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Rough diamond prices dropping

Rough diamond prices have reportedly fallen after months of frenzied purchasing. The diamond industry was considered a surprise winner as the global economy rebounded from the COVID-19 pandemic and in 2021, rough diamond prices rose by more than 20 per cent after copping significant hits in 2019 and 2020. Read more »
Last week, the UK revealed a list of 65 new sanctions put in place against organisations and individuals identified as contributors to Russian military efforts. A list of ten key individuals or businesses were highlighted and second on that list was diamond mining company Alrosa.

News
UK government announces direct sanctions on Alrosa

Russian diamond mining juggernaut Alrosa has been directly sanctioned by the UK government in the latest round of economic sanctions imposed in response to the invasion of Ukraine. Read more »
The US tariffs penalise businesses for using diamond polishing services in China to a degree which Diamond Foundry states exceeds the cost of the manufacturing service itself. Image: Diamond Foundry

News
Diamond Foundry announces lawsuit against US Government

Diamond Foundry, a US company manufacturing lab grown diamonds in California, has announced it will take legal action against the United States Trade Office. Read more »
Many people within the diamond and jewellery industry, as well as those external to it, are asking: “Should the entire global trade of all rough from Russia be blocked immediately?” Image: Alrosa's Luminous Diamonds Campaign

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The Russian Question: deciphering the diamond disruption

The Ukraine conflict and the resulting sanctions on Russia have had a major impact on the international diamond industry. ROBERT BOUQUET analyses the effect on the distribution pipelines and what’s in store for the jewellery sector. Read more »
A disruption in rough diamond supply would greatly impact India’s diamond industry as a number of major diamond enterprises, managed by Gujarati diamantaires, operate in Russia. Image: AFP / P. Golovkin

News
Industry critics admonish India as Russian rough imports resume

Russian mining company Alrosa has resumed exporting rough diamonds to India despite economic sanctions being placed on the country by the US and EU. Read more »
Despite the intensified sanctions, the enhanced restrictions apply only to rough diamonds extracted or polished exclusively in Russia. Cut or polished diamonds from Russian rough imported from other countries are still considered legal.

News
More sanctions on Russia; loophole hounds diamond export ban

The European Union has announced a fourth round of economic santions on Russia following the invasion of Ukraine in late February, and among the restrictive measures is a ban on the importartion of luxury items such as diamonds and jewellery. Read more »
Udachny Open Pit Mine, City of Udachny, Yakutia <b>Source: ALROSA</b>

News
More problems for Russian diamond industry; stiffer import and export bans

The US, European Union and the G7 forum leaders have collectively announced stiffer sanctions to be imposed on Russia by banning – among others - the importation of diamonds and jewellery to “further isolate Russia from the global financial system”. Read more »
Diamond producers such as De Beers and Petra may benefit from on-going sanctions imposed on Russia, especially on partially state-owned Alrosa Diamond Mine, as calls to boycott Russian diamonds continue. Source: De Beers

News
De Beers and Petra diamond sales increase, could benefit further from sanctions in Russia

Diamond producer De Beers has reported an 18 per cent increase in sales during the second cycle of 2022 as the company continues its recovery from the COVID-19 pandemic induced slump. Read more »
The decision to suspend its membership from NDC also ceases Alrosa’s financial contributions to the council and vacates its board position amid the current Russia-Ukraine war crisis.

News
Alrosa steps down from NDC and RJC; assures India business as usual

With the ongoing economic sanctions imposed on Russia, mining company Alrosa has suspended its membership from the Natural Diamond Council (NDC) and vice-chairmanship of the Responsible Jewellery Council (RJC). Read more »
delete this Image   Russian diamond producer Alrosa has reported a 50 per cent increase in total revenues for 2021, thanks to the worldwide increasing demand for rough and polished diamonds. Source: Alrosa

News
Alrosa posts 50 per cent revenue increase; Russia-Ukraine war could affect 2022 figures

Russian diamond producer Alrosa has reported a 50 per cent increase in total revenues for 2021, thanks to the worldwide increasing demand for rough and polished diamonds, based on the company’s fourth quarter and 12-month financial report. Read more »
Countries have been quick to sanction Russia since its attack on Ukraine. Alrosa is one of the more than 90 companies and financial institutions - which included two of the country’s largest banks – listed in the sanction order. Source: Business Today India by Pragati Srivastava

News
Economic sanctions on Russia seen to impact diamond trade

The US government has named Russian state-run mining company Alrosa as one of the companies facing “expansive economic measures” and which is expected to impact the worldwide supply and trading of diamonds. Read more »

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