Despite sanctions by the US and the EU on Russia following its invasion of Ukraine, Alrosa is selling over $250 million of diamonds a month, according to a report in Bloomberg News quoted by IDEX Online.
Sales have resumed primarily to India, “where banks have become more comfortable with transactions in rupees and in currencies other than US dollars, which have been outlawed,” as per the report.
Bloomberg added that Alrosa’s sales are now only 30% or so below its 2021 monthly average of $347 million. In January of this year, the last month of reported sales before the war broke out, Alrosa sold $325 million worth of rough and polished diamonds.
