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Search Results - Samuel Ord, Russian Ukraine Conflict

your search of 'Samuel Ord, Russian Ukraine Conflict' has 14 results.

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According to recent reports, Russian diamond sales in Europe increased following the invasion of Ukraine despite retaliatory economic pressure from western powers.

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US diamond traders told to prepare for new sanctions

A US jewellery industry trade body has issued an alert to members forewarning of incoming sanctions on the import of diamonds originating from Russia. Read more »
According to recent reporting, Russian diamond sales in Europe increased following the invasion of Ukraine, despite retaliatory economic pressure from the US, EU, and other western powers. Source: Reuters – Tanya Makeyeva

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Reputations at stake as Russian diamond trade survives sanctions

As debate continues to swirl around future economic penalties expected to be implemented against Russia in response to the invasion of Ukraine, the impact of these sanctions has been dramatically undermined. Read more »

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Diamonds in the spotlight as new EU sanctions approach

The European Union (EU) has confirmed a 10th round of sanctions will be placed on Russia in response to the invasion of Ukraine, leading to further speculation over the future of the diamond industry. Read more »
The famous 1,109-carat Lesedi la Rona diamond rough was found in a Lucara mine.

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Diamond mining CEO calls for further sanctions on Russia

As the debate continues to swirl over the future of Russian diamonds in western markets Lucara Diamond CEO Eira Thomas has weighed in, calling for further sanctions. Read more »
Nine rounds of sanctions have been adopted by the EU against Russia since the invasion of Ukraine with the most recent of these coming into effect in December.

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EU exploring further sanctions against Russian diamond industry

There have been renewed calls from within the European Union to place further sanctions on Russia’s diamond mining industry in response to the invasion of Ukraine. Read more »
According to the Surat Diamond Association these factories are currently working at approximately 70 per cent capacity due to weakened demand, leading to extensive loss of employment opportunities for the local population.

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Widespread job losses due to weakened diamond demand

Decreasing demand for diamonds has led to more than 20,000 workers losing their jobs in India's cutting and polishing industry.  Read more »
According to reporting from Rough and Polished, Ivanov, who is under extensive US sanctions following the invasion of Ukraine in February, is leaving the mining company to join an investment group.

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Rumours suggest Ivanov to depart Alrosa

The CEO of Russian mining company Alrosa, Sergei Ivanov, will step down soon according to reporting from Russian business media. Read more »
According to reporting from Rapaport News, Antwerp is Russia’s most significant market for diamond sales. In 2021, around 36 percent of revenue for Alrosa, the largest Russian miner, came from Belgium. Source: Reuters – Tanya Makeyeva

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Diamonds likely spared in latest round of Russian sanctions

The European Union is currently developing the framework for further sanctions against Russia in response to the ongoing conflict in Ukraine. Read more »
The NDC was established in 2000 with the intention of advancing the trade for the entirety of the diamond value chain, from mining to retail. One core focus for the organisation was reducing the trade of ‘conflict diamonds’.

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Natural Diamond Council facing financial crisis

The Natural Diamond Council (NDC) is expected to lose approximately half of its budget for 2023, a brutal blow for the international industry advocate. Read more »
Alrosa's full-year diamond production also rose by 8 per cent (32.4 million carats) compared with the same period in 2020 (30 million carats), due to increased output volume from the mine’s V. Munskoye and Nyurba Division deposits. Image: Alrosa

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Mining giant Alrosa revives exports despite sanctions

Questions have been raised about the effectiveness of economic sanctions placed against mining juggernaut Alrosa following reports that Russian rough diamond sales remain healthy. Read more »

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Fight continues over "blood diamond" definition

Russia’s Finance Ministry has released a statement condemning the bid to have diamonds mined in Russia classified as blood diamonds. Read more »
Among the latest round of sanctions imposed by the UK government was a 35 per cent tariff on the importation of diamonds from Russia and Belarus.

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Diamonds slapped with tariff as UK and Russia hostility continues

The jewellery industry remains entangled in hostilities between the UK and Russia as the two countries continue trading economic blows. Read more »

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Responsible Jewellery Council’s ‘missing’ members

As the Responsible Jewellery Council (RJC) continues to come under siege for its handling of the Alrosa situation in the wake of the invasion of Ukraine – among other issues – industry experts and commentators have called for it to be restructured instead of dismantled. Read more »
Prior to the resignation of Iris Van der Veken on 29 March, John Hall was serving as vice chairman for the RJC. He previously worked with mining company Rio Tinto in London as general manager of external affairs.

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Responsible Jewellery Council appoints temporary leader

The Responsible Jewellery Council (RJC) has appointed John Hall as interim executive director following the resignation of Iris Van der Veken. Read more »

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