The supervisory board of the Russian diamond mining company ALROSA will hold a vote on June 13 on a number of issues, one of which will be the closure of the company's office in Antwerp, Belgium due to bankruptcy proceedings.
Alrosa Belgium NV, a subsidiary of the Russian diamond group in Belgium, has existed for more than 20 years. It was engaged in both analytical work on the diamond market and conducted diamond tenders.
“Our role includes getting closer insight into the state of the Antwerp diamond market, providing updates to the head company about significant changes and local events, and organizing rough diamond viewings at auctions, tenders and other trade events to assess market trends for the timely adjustment of ALROSA's sales policy,” said director of ALROSA’s Antwerp office Akil Zubir in an interview to the company’s corporate journal in early 2022.
At the same time, in February 2022, the company opened a new office for holding auctions in the Diamond Exchange building. Earlier, on average, and depending on the scope of the trade event, shows were attended by 60-80 companies, or 20-40 companies per week. The office hosted up to 80 people per week.
Meanwhile, from January 1, 2024, the G7 countries together with the EU, banned the import of rough diamonds from Russia. From March 1, restrictions on Russian-origin diamonds cut and polished in third countries are gradually being introduced.
Theodor Lisovoy, Editor in Chief, Rough&Polished
