Policies & IssuesMar 25, 2022
UK Sanctions Russian Diamond Miner Alrosa Policies & IssuesMar 28, 2022
Tiffany Suspends Use of Russian Diamonds
The retailer joins Signet Jewelers and Brilliant Earth in refusing to purchase Russian diamonds.
Tiffany & Co. announced Friday that it would no longer buy diamonds mined in Russia, a policy effective as of March 21. (Image courtesy of Tiffany & Co.)
New York—Tiffany & Co. will no longer buy diamonds mined in Russia following the country’s late February invasion of Ukraine, the retailer announced in a statement Friday.
“As of March 21, Tiffany has paused the sourcing of all rough diamonds from Russia, as well as serialized diamonds of Russian origin regardless of where they are cut and polished,” said Tiffany in a statement shared via Twitter.
The U.S. banned the import of non-industrial diamonds mined in Russia earlier this month, but, as of press time, a loophole exists that allows for the import of Russian diamonds that are cut and polished in another country.
Tiffany’s ban only applies to diamonds mined in Russia as of March 21, so Russian diamonds are expected to still be in stores for at least several months as Tiffany sells through existing inventory, according to a Bloomberg report.
The LVMH-owned company also said it has directed its suppliers to stop buying rough diamonds from Russia on its behalf, according to a Barron’s report.
Melee diamonds are also being separated based on their country of origin, said the report.
Related stories will be right here …
“As of March 21, Tiffany has paused the sourcing of all rough diamonds from Russia, as well as serialized diamonds of Russian origin regardless of where they are cut and polished,” said Tiffany in a statement shared via Twitter.
The U.S. banned the import of non-industrial diamonds mined in Russia earlier this month, but, as of press time, a loophole exists that allows for the import of Russian diamonds that are cut and polished in another country.
Tiffany’s ban only applies to diamonds mined in Russia as of March 21, so Russian diamonds are expected to still be in stores for at least several months as Tiffany sells through existing inventory, according to a Bloomberg report.
The LVMH-owned company also said it has directed its suppliers to stop buying rough diamonds from Russia on its behalf, according to a Barron’s report.
Melee diamonds are also being separated based on their country of origin, said the report.
LVMH owns several watch and jewelry brands, including Bulgari, Chaumet, TAG Heuer and Zenith. The company did not respond when asked if any of these brands have taken a similar stance.
Tiffany joins Signet Jewelers and Brilliant Earth, which have set similar sourcing restrictions.
“Russian diamonds, which we have suspended, were really a small impact for us, but we’re taking a bigger stand on this issue because we think that it’s so important,” Signet CEO Virginia C. Drosos said on an earnings call earlier this month.
She noted that Signet is a founder of the Responsible Jewellery Council and a member of the World Diamond Council, and has its own in-house sourcing protocol, which allows it to take greater control of the process.
“This helps us dig back into the supply chain, not only to know that our vendors are operating ethically but that everyone on the supply chain from mine to market is operating on the standards that we require,” she said.
Brilliant Earth was one of the first jewelers to make a statement on the issue, announcing it had removed all Russian diamonds from its website.
More on Policies & Issues
The Latest
AuctionsFeb 26, 2026
Noonans to Auction Lady Wardington’s JewelryThe jewelry collection belonged to “one of society's most glamorous and beautiful women of the mid-20th century,” said the auction house.
SourcingFeb 26, 2026
Anglo American CEO Gives Insight Into De Beers SaleThe update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.
ColumnistsFeb 26, 2026
Practical Ways Jewelers Can Leverage AI in 2026Emmanuel Raheb discusses the rise of “GEO” and the importance of having well-written, quality content on your website.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CrimeFeb 26, 2026
Three Sentenced in California Jewelry HeistEach received around four years for burglarizing a jewelry store and a coffee shop in Simi Valley, California, last May.
Weekly QuizFeb 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsFeb 26, 2026
GIA Names 2026 Jewelry Design Contest Winner, Retires Annual AwardCatherine Aulick, a GIA graduate, received the ninth and final Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.
TrendsFeb 25, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
SourcingFeb 25, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
EditorsFeb 25, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
WatchesFeb 25, 2026
Private Equity Firms Write Down Value of Breitling, Report SaysThe Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.
CollectionsFeb 25, 2026
Rahaminov Diamonds’ New Campaign Honors Its MatriarchThe campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.
IndependentsFeb 25, 2026
Borsheims Names 2025 ‘Ike-It’ Award WinnerRachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
