Alrosa Sales Rise Despite Sanctions
Alrosa’s revenue rose in 2023 as the Russian diamond miner continued to sell despite sanctions.
Russia
US’s New List of Russian Sanctions Includes Diamond Exporter
The US Treasury has imposed sanctions against nearly 300 Russian entities in its latest round, including a company specializing in the export of rough and polished diamonds. The new series of restrictions the Office of Foreign Assets Control (OFAC) has applied marks the two-year anniversary of Russia’s invasion of Ukraine, and is also in response … Read more
Diamond Industry Gears Up for Tighter Controls
The diamond industry is bracing for significant change in 2024.
US Sanctions Gold, Diamond Companies Aiding Wagner Group
The US Department of the Treasury has issued sanctions against four companies and an individual in the gold and diamond industries that have provided funding to Russian military organization Wagner Group.
Diamond Importers Might Have to Declare Russian Origin
G7 countries could oblige companies to affirm that their imported polished diamonds are not of Russian provenance, according to the US’s top sanctions official.
The Diamond Origin Dilemma
Russia’s invasion of Ukraine is another defining moment for the diamond industry.
US, EU engage diamond industry on Russian diamonds
State Department and European Commission Engage Diamond Industry to Discuss Next Steps on Russian Diamonds
G-7 and EU looking at ways to track and trace Russian diamonds
Group of Seven nations and the European Union are discussing ways to track Russian diamonds across borders, a move that could pave the way for restrictions on their trade in future, according to people familiar with the matter. Previous EU attempts to sanction Russian gems have run into resistance from importer nations such as Belgium … Read more
De Beers Cautious Following Sales Jump
De Beers’ revenue rose 24% in the first half of 2022, but the miner gave a more somber outlook for the rest of the year. “We can only have strong rough sales if that’s also coupled by what’s going on on the polished side,” De Beers chief financial officer Sarah Kuijlaars told Rapaport News on … Read more
Russia hits back at attempts to ‘politicise’ its diamonds
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