US Sanctions: Buy from us with Confidence, says De Beers
March 15, 22
(IDEX Online) - De Beers issued a brief statement following the imposition of US sanctions on Alrosa, its biggest rival, assuring retailers they could buy from them "with confidence".
The UK-based miner gave assurances that all its diamonds were from Botswana, Canada, Namibia or South Africa.
An executive order announced by US president Joe Biden last Friday prohibits the importation of rough gem-quality diamonds from Russia into the US.
Alrosa is the world's biggest supplier of rough diamonds by volume. De Beers is the biggest by value.
"De Beers Group is committed to working with Sightholders to support the United States' demand needs and to provide the origin and impact of every diamond we discover and sell," it said.
Meanwhile the World Federation of Diamond Bourses said in a statement that it was "deeply concerned over the loss of life and suffering that is inflicted on so many as a result of the conflict in Ukraine".
It urged member bourses to "to closely follow the mandatory guidelines and decisions of the authorities within their relevant jurisdictions".
Pic courtesy De Beers