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EU Allows Imports but Bans Export of Diamonds to Russia

The sanctions cover the sale of luxury goods to Russia with a value over $330
EU flag
Credit: ptnphoto

The European Union has banned the export of diamonds and any other luxury goods to Russia “with a value over $330,” IDEX Online reports. The sanctions cover the sale of precious stones, crystal, caviar, wine, handbags, leather products, shoes and coats.


alrosa rough diamonds russia
Credit: Alrosa


However, in contrast to the US, the EU did not ban the purchase of rough diamonds from Russia, “so European business with Alrosa is not directly affected.”


Underground diamond mining Russia
Credit: Alrosa


Meanwhile, the Kimberley Process Civil Society Coalition (KP CSC) has issued a statement saying that it “is gravely concerned with the deteriorating human rights situation in Ukraine following the invasion of the country by the Russian Federation,” and has called KP chair Botswana to call a special plenary meeting to that end.

Tags: Diamonds News, Jewelry News, Diamond Industry News

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