Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

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

European Union imposes sanctions against ALROSA and its CEO

03 january 2024

The Council of the European Union, a legislative body of the EU, has included the Russian diamond mining company ALROSA and its CEO Pavel Marynichev into the list of sanctioned entities.

The decision was published on the official website of the EU on January 3, effective immediately.

New sanctions from the EU follow the proposed import ban on non-industrial diamonds of Russian origin in Group of Seven (G7) states that came into effect on January 1. ALROSA has been sanctioned in U.S. since April 2022, but EU has abstained from cutting ties with the diamond producer because Belgium's Antwerp, a major diamond hub, was reliant on Russian rough. However, when the contours of the ban were finalized after extensive consultations over the course of 2023, the EU was able to impose its own sanctions.

The G7 restrictions will be introduced gradually: a direct import ban on Russian diamonds took effect from January 1 and indirect, after polishing in India and elsewhere, will be put into action from March 1. Traceability-based verification system to track diamonds of Russian origin is likely to be introduced by September, industry insiders claim.

Earlier in December, Russian finance minister Anton Siluanov told reporters that the export of Russian diamonds will continue despite the restrictions imposed by G7.

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