Rebecca Foerster Resigns, Alrosa To Close Its US Office
Foerster said she stepped down March 10, and the office will close by the end of April.
Foerster said she officially turned in her resignation on March 10, one day before U.S. President Joe Biden announced a ban on imports of non-industrial Russian diamonds.
She cited the ongoing “geopolitical situation” and the inability of Alrosa to do any business in the U.S. market as the reasons for her resignation.
Foerster said the office, which is in New York City, will close no later than April 30.
Alrosa and its CEO, Sergey Ivanov Jr., have been under U.S. sanction since Feb. 25, one of a number of measures enacted by the U.S. government to punish Russia for its invasion of Ukraine.
Those sanctions were not an outright freeze on Alrosa’s assets, nor did they bar U.S. companies from doing business with Alrosa, but they made it complicated.
In the wake of the sanctions, the Jewelers Vigilance Committee recommended companies review the sanctions lists and their anti-money laundering programs to ensure they were in compliance, while Jewelers of America advised its members to stop dealing in goods of Russian or Belorussian origin completely.
The subsequent ban on imports of Russian diamonds put in place March 11 further tightened the noose by barring direct diamond buying from Alrosa or any other Russian diamond companies.
While diamonds cut and polished elsewhere can be imported into the United States, JVC recommends the trade proceed with “extreme caution” when it comes to anything from Russia.
It also noted it is likely the U.S. government will ban diamonds cut and polished elsewhere in the future.
Foerster was hired to head Alrosa’s U.S. office in January 2019, with responsibility for polished diamond sales and customer service in the United States.
She came to Alrosa USA from Leo Schachter Diamonds, where she served as executive vice president of strategic planning and marketing.
Prior to that, she headed the U.S. office for Rio Tinto and, before that, was vice president of marketing for Frederick Goldman Inc.
Foerster also served as the president of Diamonds Do Good, succeeding Anna Martin in January 2021.
She said she was asked to step down from DDG the week prior to her resignation at Alrosa.
The jeweler was left in critical condition after a suspect pistol-whipped and beat him before stealing jewelry out of the display cases.
Readers are taking a “strong interest” in lab-grown jewelry, said Brides’ editorial director.
The diamond industry is dramatically evolving from manual to AI-based 4Cs grading. Stay up-to-date and discover the new AI-powered advances.
Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
The winners, picked by a group of judges and voted as the public’s favorite, will be announced in a webinar on Oct. 11.
The engravable piece is a perfect family heirloom.
Sponsored by Synchrony
According to Christie’s, the auction is its most important single-owner watch collection ever.
The topics up for discussion with lawmakers included inflation, rising interest rates, hiring challenges, and crime.
The pear-shaped fancy vivid pink diamond will lead the Christie’s Geneva Magnificent Jewels auction on Nov. 8.
There are three designs to choose from this year, all featuring animals drawn by kids who have had wishes granted through Make-A-Wish.
Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”
A total of four suspects are now in custody with police still on the lookout for the remaining two.
From a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.
“Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.
It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.