New York jewellery brand Tiffany & Co has announced its move to stop buying all Russian diamonds.
Despite this, the high jewellery company will continue selling its existing stock of Russian diamonds to customers, professionaljeweller.com writes with reference to Bloomberg.
The news, the publication said, means that Russian diamonds will still be on sale in Tiffany stores “for at least several months”.
Bloomberg even added that Tiffany is likely to introduce new Russian diamonds to its stores because the mine-to-store process takes around three months, and so the company’s diamond cutting and polishing team is likely working on Russian-mined stones even as the war goes on.
Bloomberg also asserted that Signet Jewelers is likely operating to a similar model.
Alex Shishlo for Rough&Polished
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