Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Proposed ban on Russian diamonds to include LGDs

05 december 2023

The European Commission has adopted a proposal to be approved by member states that would ban both natural and synthetic diamonds originating from Russia, although the sanctions are to be phased in gradually.

The AFP news agency cited a copy of the proposal that will ban trade in diamonds originating in, transiting, or exported from Russia, as well as Russian diamonds cut and polished in third countries.

Starting January 1 2024, the ban would apply to "non-industrial natural and synthetic diamonds as well as diamond jewellery." Meanwhile, the import ban on Russian diamonds cut or polished in third countries would be phased in between March and September next year.

According to the agency, industry insiders in Belgium expect the sanctions to be phased in gradually to limit market disruption.

"This phasing-in... takes into consideration the need to deploy an appropriate traceability mechanism that enables effective enforcement measures and minimizes disruptions for market players," the draft says.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished