Russian diamond mining company ALROSA will temporarily stop distributing rough diamonds in September and October. This decision was: accepted On the request of the Indian Gems and Jewelery Export Promotion Council (GJEPC).
The Indian regulator reportedly made this request due to fears that demand for diamonds would decrease in global markets. This situation leads to interruptions in the work of slaughterhouses. A similar request came from India during the pandemic in 2020. However, it was later stated that a call was made to local companies not to purchase rough diamonds. “Kommersant”.
India is the largest consumer of Russian diamonds. Export volume is estimated at approximately 4 billion dollars per year.
The West’s plans became known in mid-September. to impose Embargo on diamond supplies from Russia.
Formerly US Treasury extended Sanctions on Russian banks
Source: Gazeta
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