Tag: Russian diamonds

LONDON: Nineteen months have passed since Russia invaded Ukraine, sending shock waves around the world — and through the global diamond market.Russia is the world’s biggest diamond exporter by volume, with a state-owned company, Alrosa, mining almost one-third of all diamonds produced in 2021.To prevent funds from flowing into the Kremlin war chest, the United States — the world’s largest market for finished diamonds — took action last spring when President Joe Biden banned the import of rough diamonds from Russia and the US Treasury Department placed sanctions...