Russia
Russia plays a significant role in the global jewellery industry, particularly as a major source of diamonds, precious metals, and coloured gemstones. For UK jewellers, designers, and suppliers, developments in Russia can impact supply chains, pricing, and ethical sourcing considerations. Jewellery Focus provides coverage on Russia’s influence within the trade, including market trends, sanctions and regulatory changes, and how geopolitical factors affect the availability and sourcing of materials. Our reporting helps trade professionals navigate the complexities of working within a globally connected industry.
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Oct- 2024 -10 OctoberManufacturers
Diamond prices decline in September
Diamond prices dropped in September as the market continued to suffer from an oversupply, according to Rapaport’s RapNet Diamond Index. As a result, Indian manufacturers reduced rough-buying and polished production to rebalance supply and demand. This adjustment also led to a decline in polished inventories, but will take a few…
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Feb- 2024 -28 FebruaryRetailers
Facet launches The Timeless Classics Collection
Facet has announced the launch of its first fully traceable range, The Timeless Classics Collection, ensuring responsible sourcing and sustainable practices throughout the supply chain through the certified and audited traceability offered by Tracemark. It said that amid a complex global scenario of geopolitical tensions and economic sanctions, the diamond…
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Jan- 2024 -3 JanuaryManufacturers
Russian diamond producer Alrosa added to EU sanction list
The world’s biggest diamond producer Alrosa and its CEO Pavel Alekseevich Marinychev have been added to the European Union’s sanction list. In a post on social media platform X, Josep Borrell, foreign policy chief, said: “In line with the diamond ban we have introduced with the 12th package of sanctions,…
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Dec- 2023 -22 DecemberTrade Organisations
NAJ welcomes Russian diamond ban despite concerns
The National Association of Jewellers has welcomed the G7’s ban on Russian imported diamonds but has concerns about how it will be enforced. Non-industrial diamonds mined, processed or produced in Russia will be banned by the EU in phases, with the direct ban coming into force on 1 January 2024.…
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Jun- 2023 -27 JuneFeatures
Jessica Flinn on changes, challenges and trends in the jewellery industry
Can you tell me about yourself and the history of Jessica Flinn? I started Jessica Flinn Designers Limited straight out of university in 2010, so it has been 13 years now, which is absolutely bonkers. I initially started out making stainless steel and silver jewellery, and I would sell it…
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May- 2023 -19 MayInternational
Rishi Sunak to ban imports of Russian diamonds and metals
Rishi Sunak has announced a ban of Russian diamond, copper, aluminium and nickel in the UK, at the latest G7 Summit, according to a report by Sky News. The announcement comes after the G7 countries and the prime minister toughened their sanctions against Vladimir Putin. According to Sky, in addition…
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Aug- 2022 -26 AugustEconomy
Energy price cap to rise by 80% to £3,549 from October
Ofgem has confirmed that the energy price cap will increase by 80% to a record £3,549 a year for dual fuel for an average household from 1 October 2022. The rise will affect those on standard variable tariffs, with the record annual bill only being based on typical usage. At…
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Jul- 2022 -22 JulyTrade Organisations
De Beers rough diamond production falls 4%
The De Beers Group has reported that rough diamond production fell by 4% to 7.9 million carats in the second quarter of 2022 (Q2), despite a “strong” demand for rough diamonds continuing in the quarter. In Botswana, production decreased by 4% to 5.5 million carats due to lower grade ore…
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Jun- 2022 -27 JuneCurrent Affairs
UK sanctions Russian gold exports
New exports of Russian gold will no longer be allowed to enter the UK, Canada, US and Japan due to new measures announced at the G7 Summit yesterday (26 June), in a bid to ramp up the pressure on Putin amid his attack on Ukraine. Gold is reportedly Russia’s biggest…
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May- 2022 -10 MayNews
RapNet bans Russian diamonds
RapNet, the diamond trading network, has banned Russian diamonds from its platform amid the country’s ongoing attack on Ukraine. According to Rapaport, the ban applies to all diamonds sourced from Russia after 24 February 2022, and it includes polished diamonds manufactured outside of Russia from Russian rough diamonds. All in…
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