Moscow investigators on Monday said they сharged an employee of the state-run diamond producer Alrosa, her son and two others in connection with a diamond theft scheme at the company.
Alrosa has concluded the sale of its 41 per cent share in Catoca, Angola’s state-controlled diamond miner, drawing an end to a 32-year partnership.
Russia is joining forces with its ally Belarus to promote jewelry exports to China, the UAE, Vietnam, and Southeast Asia, in response to G7 sanctions.
Alrosa Finds 2 Huge Diamonds at Udachnaya on the Same Day
ussia condemned what it called a push to “politicise” its diamonds over the conflict in Ukraine and said attempts to question its compliance with the international diamond certification scheme were “totally unfounded” and “far-fetched”. The Kimberley Process, a coalition of governments, the diamond industry and civil society responsible for certifying diamonds as conflict-free, is split … Read more
The Natural Diamond Council (NDC) is facing a massive budget cut in 2023 unless the industry steps in to compensate for the loss of Alrosa’s financial contribution, CEO David Kellie told Rapaport News. “We’ve probably been impacted more than anybody [by sanctions against Russian diamonds] in as much as Alrosa was almost half of our … Read more
Russia may buy an as yet undetermined amount of rough diamonds from sanctions-hit producer Alrosa through its state precious metals and gems repository Gokhran, the country’s Finance Minister Anton Siluanov said on Wednesday. The United States imposed sanctions on state-controlled Alrosa in April, complicating the Russian company’s operations in the global diamond market, with the … Read more
Russian miner Alrosa has suspended its membership in the Responsible Jewellery Council (RJC), both organizations announced last week. The development came just over a month after Russia’s invasion of Ukraine. The RJC board of directors voted to accept Alrosa’s decision, the standards groups said Friday. Alrosa exited the RJC board in early March, but remained … Read more
US President Joe Biden has issued an executive order prohibiting the import of “nonindustrial” diamonds originating in Russia. The measures, which the White House announced on Friday, follow Russia’s continued war in Ukraine and build on earlier US sanctions outlawing debt and equity transactions with Alrosa and its CEO, Sergey Ivanov. Those previous rulings did … Read more
Alrosa has highlighted concerns about the impact of the US’s punitive measures after reporting its strongest annual earnings in five years. Revenue jumped 51% to RUB 326.97 billion ($2.99 billion) in 2021 as the diamond market recovered from the previous year’s downturn, the Russian miner reported Wednesday. This drove net profit to RUB 91.32 billion … Read more