Global crisis: what are the consequences for the diamond industry?

Marianne Riou

Dear Readers,

How can we not talk about the war in Ukraine? And what should we say about it?

Since ALROSA is the largest supplier of rough diamonds by volume, our industry can only expect to experience economic repercussions.This situation is unprecedented and we are working to understand all its ins and outs. At the time of writing*, and according to our sources, the US, unlike the EU, has imposed sanctions on ALROSA, but has not actually banned transactions. You can read about it in the JCK Online article “U.S. Sanctions Target Alrosa And Its CEO,” which we republish on our website. You will also find information on the National Jeweler website, on Rapaport of course (including this article which sums up the challenges which this crisis sets for our industry: “Ukraine Crisis Leaves Diamond Industry Vulnerable”) and on Idexonline. We need to follow this news on a day-to-day basis and we will republish certain background articles and analyses.

At Rubel & Ménasché, we feel it is important to tell you that, in the midst of all these uncertainties, you can count on one thing, we will continue to do our job to the best of our ability. We know and will always know how to be agile and responsive. And above all, what seems most important to us today, is to think of all the human beings caught up in this terrible turmoil. Just that: human beings, wherever they come from, who are direct victims of this international crisis…

In addition, in this edition of the Lettre, you will find many extremely interesting topics that have caught our attention. Several articles look at prices and how they have soared, and we spend some time looking at certifying diamonds via IA and at the engagement ring trends to watch out for in 2022. And we try to understand where Tiffany and LVMH are going…

Take care.

Happy reading and enjoy your week.

 Source Rubel & Ménasché

*Since this editorial is written two days before its publication, we don’t focus on news that is too ‘hot.’

Photo © Olga Subach on Unsplash – Ukraine.