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De Beers - 2 Russia’s - 1 Pavel Alekseevich Marinychev - 1 ” - 1 Paul Zimnisky - 1 Russia they’ll - 1 Andrey Rudakov - 1 Morgane Winterholer - 1
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Search resuls for: "Diamond Centre"


5 mentions found


☆ New sanctions on Russian diamonds will change the global trade in gems
  + stars: | 2024-01-22 | by ( Sarah Kent | ) edition.cnn.com   time to read: +5 min
But as of the start of January, EU and G7 countries have banned the direct purchase of non-industrial diamonds from Russia. This move will be followed by further restrictions on the import of Russian diamonds processed in third countries starting in March. Industry groups including the World Diamond Council, Antwerp World Diamond Centre, the Gem and Jewellery Export Council of India and the Gemological Institute of America (GIA) have been working together to develop an effective solution. What does this mean for the diamond industry? LVMH-owned Tiffany and Richemont both said they stopped sourcing Russian stones shortly after the war in Ukraine broke out.
Persons: Russia’s, Pavel Alekseevich Marinychev, ”, Paul Zimnisky, Russia they’ll, Andrey Rudakov, Morgane Winterholer, De Beers, Tiffany, Richemont Organizations: CNN, European, Bloomberg, Getty, EU, Industry, World Diamond Council, Diamond Centre, Jewellery Export, of India, Gemological Institute of America, “, ”, GIA Locations: Ukraine, Canada, Japan, France, Germany, Italy, Antwerp, Belgian, Russia, Europe, Moscow, “
☆ In diamond centre Antwerp, Russian gems are already shunned
  + stars: | 2023-11-03 | by ( Julia Payne | ) www.reuters.com   time to read: +5 min
[1/5] Cut diamonds are seen at the diamond exchange in Antwerp, as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023. Other diamond firms in Antwerp, the world's biggest centre of trade in rough diamonds and cutting of the biggest gems, were asked to avoid Russian stones. Now, Western powers want to make the boycott official with a formal ban on Russian stones. Imports of Russian rough diamonds are now at less than 5% of pre-war levels, the source said. Most proposals under consideration by the G7 now focus on rough diamonds of 1 carat and above initially.
Persons: Johanna Geron, Thierry Tugendhaft, Van Cleef, Tugendhaft, De Beers, It's, Julia Payne, Elaine Hardcastle Organizations: REUTERS, Rights, European, World Diamond Council, EU, Thomson Locations: Antwerp, Ukraine, Belgium, Rights ANTWERP, Russia, Paris, Tiffany's, Cartier, Canada, Lesotho, South Africa, Botswana, India, United States, Japan, European Union, France, Antwerp . New
☆ Europe wants to ban Russian diamond imports. What comes next?
  + stars: | 2023-05-19 | by ( Anna Cooban | ) edition.cnn.com   time to read: +6 min
“Russian diamonds are not forever,” European Council President Charles Michel said on the sidelines of the G7 summit in Hiroshima, Japan, on Friday. Tatyana Makeyeva/ReutersA ban on Russian diamonds could inflate prices for European consumers, especially if diamond production elsewhere doesn’t ramp up. The biggest task facing Europe is how to design an air-tight ban that prevents Russian diamonds from arriving in the bloc through circuitous routes. “There are a lot of Russian diamonds that still get sold within the American economy,” he said. “If you really want to close loopholes, you need to find a system that prevents [Russian] diamonds going to the G7 market,” Neys said.
☆ Factbox: EU keeps on doing business with Russia despite sanctions
  + stars: | 2023-03-29 | by ( Gabriela Baczynska | ) www.reuters.com   time to read: +5 min
Here is a list of areas where the EU keeps on doing business with Russia. TRADE FLOWSIn 2021, Russia was the EU's fifth-largest trading partner with goods exchange worth 258 billion euros, according to the EU executive European Commission. Since the invasion in 2022, the value of EU imports from Russia fell by a half to around 10 billion euros last December. Gas is not covered by EU sanctions, but Moscow slashed pipeline deliveries to Europe since the invasion. The EU imported 2.1 billion euros worth of nickel in 2021, up to 3.2 billion euros last year, according to Eurostat.
☆ Eyes on Belgium as some EU states push for Russian diamond ban
  + stars: | 2022-09-25 | by ( Gabriela Baczynska Philip Blenkinsop | Gabriela Baczynska | Philip Blenkinsop | ) www.reuters.com   time to read: +2 min
Diamonds are pictured during an official presentation by diamond producer Alrosa in Moscow, Russia Ferbuary 13, 2019. Poland, Ireland, Lithuania, Estonia and Latvia proposed introducing a retaliatory ban on imports of diamonds from Russia, where Alrosa (ALRS.MM) is the world's largest producer of rough gems. Belgium's foreign ministry and the diplomatic representation to the EU did not respond to requests for comment. An EU official and a diplomat involved in preparations of new measures against Russia said, however, that Belgium was now expected to lift its veto. Register now for FREE unlimited access to Reuters.com RegisterWriting by Gabriela Baczynska; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
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