Sanctions: Alrosa do not see any major risk!

Keep diamond trade out of politics! 

Right with the announcement of Sanctions from the US & allies upon Russia, not only India but also the global diamond fraternity too; started assessing the scenario and if that can impact on diamond trade especially from Alrosa? 

In the row, Nayan Jani asked a question to Alrosa. No doubt, as of today Alrosa do not see any major risk.  Jim Vimadalal, Director-Alrosa Company Limited said, “Alrosa is carefully studying the new working conditions in connection with the imposed sanctions. 

We are doing our best to guarantee the integrity of our operations, trading activities and interaction with clients. The company intends to continue its work normally.

We hope that the industry markets will stay strong during this global turbulence, and we will stay closely connected with our businesses throughout the whole world, based on the relationships that were strengthened over decades and through a lot of crises.

We encourage our partners and industry colleagues to support the global diamond trade and to keep it out of politics and preserve the integrity of the diamond pipeline.” 

In the meantime, Silver Bear Resources informed GJ Town India that its Mangazeisky Silver Project, located in Far East Russia, continues operations as planned and has not been affected by the announced sanctions 2022.  

The Company refines its silver production in a Russian based refinery in Krasnoyarsk located in Eastern Siberia. The entire production is then sold domestically. The Company will continue to closely monitor sanction developments.  

On the other hand the related question was asked to Stephen Lussier, Chairman-Natural Diamond Council and he said, diamond industry will remain uninterrupted. “At the NDC they are not favouring any such sanctions!”