According to Erez Rivlin, the author of the article published on idexonline.com, now, after almost two months passed since the beginning of Russia's military operation in Ukraine, it is possible to start identifying the new forces that will redefine the new equilibrium of the diamond industry. "When we zoom out for a global perspective, we are witnessing a big split in the diamond and jewelry industry", he said. "On one side are those that have no Russian Dilemmas anymore. Russian diamonds are far from being the core activity of Signet, LVMH, Cartier or any other jewelry corporations. The members of this group, that also includes many diamond manufacturers, understand very well the damage that their business could sustain from the jaws of regulators and harmed reputation. Therefore, even though several members had endured limited losses, the No-Russian-Dilemma group cut all ties with any Russian diamond firms and with Russia in general. On the other side of the Big Split are all the entities whose core operations depend on the supply of Russian diamonds. This Russian Dilemma group has a lot to lose if it accepts full sanctions on all Russian diamonds, and for some it could even risk the continued existence of life-long family businesses."
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