Editor’s Note
This article highlights the ongoing challenges in enforcing sanctions, detailing how Russian diamonds continue to enter global markets, creating uncertainty and undermining intended economic measures.
Russian diamonds are being traded secretly on the international market despite U.S. sanctions imposed in response to the invasion of Ukraine, leading to widespread confusion, Bloomberg reported on the 17th (local time).
In April of this year, the U.S. Treasury Department added Alrosa, the world’s largest supplier of rough diamonds, to its sanctions list, prompting existing processing companies to successively declare they were cutting ties with Alrosa.
Some companies in India and Belgium are secretly purchasing diamonds from Alrosa at low prices, which is leading to market disruption.
