Russian diamonds are quietly flowing again after sanctions chaos.
The panic that gripped the diamond world this year is starting to unwind as sanctioned Russian mining giant Alrosa PJSC has quietly revived exports to near pre-war levels.
There is no indication that any sales have breached sanctions or laws. But there is still a widespread unease about the implications of dealing in Russian goods, said the people. The deals are being done quietly — even by the closed-doors standards of the famously secretive diamond world — and Alrosa has stopped publishing any information on its sales or financial performance.
Some parts of the diamond industry have been pushing to exclude Russian production — US jewelers Tiffany & Co. and Signet Jewelers Ltd. have said they will stop buying new diamonds mined in Russia, while countries including the US have sought to have the gems labeled as “conflict diamonds,” the New York Times reported.
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