Russian sanctions impact Indian diamond workers

An estimated 250,000 members of India’s diamond cutting and polishing industry have been placed on unpaid leave for two weeks. The work moratorium was the result of a major supply disruption in Surat, the Indian center of the diamond trade. The ongoing economic sanctions against the Russian Mining company Alrosa, installed by the US, EU … Read more

US imposes crippling sanctions on Alrosa

In what could be a significant Blow to Russia, the US has designated a state-run Mining company Alrosa in its Specially Designated Nationals (SDN) roster, which increases sanctions that carry substantial economic impacts on Russian companies. The order, issued by the Department of the Treasury’s Office for Assets Control, came on top of prevailing sanctions … Read more

Major members continue to abandon RJC

The Responsible Jewelery Council (RJC) is suffering a continued Exodus of major members with luxury watchmaker Watches of Switzerland and diamond Mining company Alrosa exiting the organization. On Thursday, Watches of Switzerland released a statement expressing dismay over the RJC’s inaction following the Russian Invasion of Ukraine in late February. “The Watches of Switzerland Group … Read more

Rough diamond prices dropping – Jeweller Magazine: Jewellery News and Trends

Rough diamond prices have reportedly fallen after months of frenzied Purchasing. The diamond industry was considered a surprise Winner as the global economy rebounded from the COVID-19 Pandemic and in 2021, rough diamond prices rose by more than 20 per cent after Copping significant hits in 2019 and 2020. Rough diamond sales rose by more … Read more