EditorsApr 01, 2022
What Do We Mean When We Say ‘Responsible’? SourcingApr 06, 2022
Moscow Diamond Bourse Pulls Out of WFDB
It’s the latest in a string of developments involving Russia and Russian companies following the Feb. 24 invasion of Ukraine.
Antwerp, Belgium—The Moscow Diamond Bourse has suspended its membership in the World Federation of Diamond Bourses, WFDB announced Monday.
The bourse, which brought trading to a temporary halt on March 7, said in an official letter that it “look[s] forward to the end of hostilities and hope that we all will be able to return to normal in the future.”
WFDB President Yoram Dvash commended the bourse’s decision.
He said: “Moscow Bourse President Alex Popov acted responsibly in shutting down its activities and suspending its membership in the WFDB.”
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The bourse, which brought trading to a temporary halt on March 7, said in an official letter that it “look[s] forward to the end of hostilities and hope that we all will be able to return to normal in the future.”
WFDB President Yoram Dvash commended the bourse’s decision.
He said: “Moscow Bourse President Alex Popov acted responsibly in shutting down its activities and suspending its membership in the WFDB.”
Monday’s news from WFDB is the latest in a string of developments involving Russia and Russian companies following the country’s Feb. 24 invasion of Ukraine.
Alrosa stepped down from the board of the Responsible Jewellery Council, suspended its membership and financial support of the Natural Diamond Council, and closed its U.S. office.
Following a heated internal debate that led several key members and RJC’s executive director to resign, the diamond miner eventually suspended its RJC membership.
Meanwhile, several key retailers have said they will no longer source diamonds from Russia, including Signet and Tiffany & Co.
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