(bloomberg.com) - De Beers has raised the price of smaller diamonds as sanctions on its Russian rival creates a growing shortage of some stones. The price of small rough diamonds, the type that would end up clustered around the solitaire stone in a ring, has surged since the start of March as cutters, polishers and traders struggle to source supply after the US levied sanctions on Russia’s Alrosa PJSC, which accounts for about a third of global production. De Beers raised the prices of smaller stones by between 5% and 7% at its sale this week in Botswana, according to people familiar who asked not to be identified because the information is private. Even after the price rises, there is strong demand for the goods, the people said.
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