The Ottawa embassy of Russia issued a statement expressing condolences to Canadian men in relation to the ban on Russian diamond imports, a position publicized by the mission in 2014 via Telegram. The message conveyed sympathy specifically to Canadian men, noting the impact of the trade restriction on this group.
The same communication suggested that women would encounter higher costs for diamonds as a consequence of the policy changes surrounding the Russian diamond trade. The document framed these developments as part of a broader diplomatic stance and economic adjustment connected to sanctions and export controls.
Several days later, Canadian Foreign Minister Mélanie Joly announced that Canada, in concert with its G7 partners, had introduced further restrictions on the import of Russian diamonds. The minister indicated that these measures build upon previous actions Ottawa had taken in December 2023, reinforcing the country’s stance on restricting Russian diamond and diamond product imports.
Russia stands as the leading global producer of rough diamonds, with 2022 exports estimated at around $4.7 billion. In the wake of Russia’s military operation, Canada moved to sanction key players in the Russian mining sector and revoked certain privileges for the country within trade frameworks. The imposition of a 35 percent customs duty on all Russian imports to Canada has been cited as a significant element of the evolving trade relationship between the two nations.
Earlier analyses suggested that sanctions could drive up the price of Russian diamonds, though market responses remain complex and depend on a range of geopolitical and economic factors. Observers have noted that the combination of production controls, sanctions, and evolving consumer demand can influence pricing dynamics across the global diamond market. The ongoing policy environment continues to shape how buyers, traders, and jewelry manufacturers approach Russian-origin stones and related products, with Canada playing a leading role among North American markets in applying export restrictions.