The state of affairs with regard to the governmental and corporate response to this situation is presented in the following two sections. The report subsequently analyses the various direct and indirect linkages between the Russian diamond sector and the invasion of Ukraine.
This report starts with a brief presentation of what kind of actor Alrosa is, followed by its responsible sourcing track record. Combined with the complex and closed nature of this international industry, this has made it difficult to get and keep a clear picture of how the diamond and jewelry industry is affected by and responding to this matter.
Russia’s targeting of civilians and civilian infrastructure, causing widespread loss of live, human suffering and the destruction of schools, hospitals and residential areas, was condemned by 141 United Nations (UN) member states in a March 2 General Assembly Resolution. This outrage has led to an unprecedented wave of economic and financial sanctions designed to hurt Russia’s economy and drain the resources of the Russian regime.Īgainst this background, the importance of Russia in the global diamond sector, more specifically of its diamond mining giant Alrosa, has been drawing increased attention with governments, businesses and industry associations reacting in diverging and constantly shifting ways. The Russian invasion of Ukraine, that started on 24 February 2022, has led to international outrage.
In this Insight, IPIS provides background and analysis on several aspects of the Russian diamond sector, what links it has to Russia’s invasion of Ukraine, and how the international business and political community is seeking an adequate response to the challenges this raises.
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