War in Ukraine: Alrosa Axed from World Diamond Council
April 14, 22
(IDEX Online) - The World Diamond Council (WDC) says it has terminated Alrosa's membership.
The move follows Russia's invasion of Ukraine, although the WDC made no mention of the war in a brief statement posted on its website.
It said: "The termination of membership includes the cessation of any rights and benefits afforded to the WDC members, such as a seat on the Board of Directors, and participation in any WDC committee." The termination was effective from 8 April.
The WDC was founded in Antwerp in 2000, and represents the entire diamond value chain and has seats on on all working groups of the Kimberley Process. It is incorporate in the USA, which has imposed sanctions on Russia.
In the weeks since the invasion Alrosa has left or been suspended from other industry groups, including the Natural Diamond Council and the Responsible Jewellery Council.
We have approached Alrosa for comment.