Gems & Jewellery News

Russia Fights Efforts to Declare It an Exporter of ‘Blood Diamonds’

Regardless, shares of Alrosa, which the U.S. says generated greater than $4.2 billion in income final 12 months and is accountable for 90 % of Russia’s diamond mining capability, have plummeted. It was successful for a corporation that 5 years in the past had launched a brand new advertising marketing campaign in America, hoping its Russian identification can be a bonus in a nation the place savvy customers had been cautious of atrocities in diamond mining that fueled wars in African nations.

“Alrosa has a really sturdy deal with environmental and social points and conforms to the very best requirements of company social duty,” the corporate mentioned in an emailed assertion. Its web site highlights efforts geared toward defending water and soil, serving to Indigenous populations and making a park to guard reindeer and different wildlife.

The controversy over Russian diamonds reached the Kimberley Course of forward of the group’s scheduled assembly in June. A motion was already afoot by the U.S. and different Western nations to find out whether or not Russia was exporting battle diamonds and to rethink Russia’s management roles within the group.

Russia itself had been among the many quite a few nations that for a number of years had been pushing inside the Kimberley Course of for an enlargement of the definition of battle diamonds, in search of to broaden it to use to points similar to human rights, labor and the setting. However as a result of the group is ruled by consensus — all choices should be unanimous among the many greater than 80 nations — the motion has stalled.

Tensions over Russian diamonds cut up the Kimberley Course of member nations alongside more and more acquainted geopolitical traces, with quite a few Western nations pitted in opposition to Russia, which was backed by China Belarus and Kyrgyzstan in addition to Mali and Central African Republic the place Russia has an enormous presence together with by its mercenaries who function in diamond mines.

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