Policies & IssuesDec 20, 2023
Lab-Grown Diamonds, Finished Jewelry to Fall Under G7 Ban, EU Says Policies & IssuesJan 05, 2024
EU Adds Alrosa to Sanctions List
The European Union also has sanctioned the diamond mining company’s CEO, Pavel Marinychev.
On Wednesday, the European Union added PJSC Alrosa, which is partially owned by the Russian government, and its CEO Pavel Marinychev to the list of entities it has sanctioned in the wake of Russian’s invasion of Ukraine.
Brussels—The European Union has added Russian diamond miner Alrosa and its CEO Pavel Alekseevich Marinychev to its list of sanctioned entities, a move that freezes their assets in the EU, prohibits EU companies and citizens from making funds available to them, and prevents Marinychev from entering or traveling through EU territories.
Announced Wednesday, the additions follow the EU’s announcement that it would be banning the import of Russian diamonds starting Jan. 1.
An EU official said the EU waited a couple days after the ban went into effect to add Alrosa and Marinychev to the sanctioned entities to “avoid confusion,” as the import ban was announced Dec. 18 but didn’t go into effect until Jan. 1, while the individual listings are effective immediately upon publication.
“In line with the diamond ban we have introduced with the 12th package of sanctions, the EU today lists Alrosa, the largest diamond mining company in the world & its CEO,” Josep Borrell Fontelles, the EU’s high representative for foreign affairs, said on X Wednesday.
“This is part of our coordinated efforts at G7 level to deprive Russia of this important revenue source.”
The Group of Seven nations (G7) announced last February that they would be working together to cut off the Russian government’s sources of revenue, including via tighter sanctions on diamonds.
The G7 nations are the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom.
In early December, following nearly a year of discussions around proposals from multiple industry organizations, the G7 issued a statement announcing all of its member nations that hadn’t done so already would ban the import of Russian diamonds beginning Jan. 1.
Related stories will be right here …
Announced Wednesday, the additions follow the EU’s announcement that it would be banning the import of Russian diamonds starting Jan. 1.
An EU official said the EU waited a couple days after the ban went into effect to add Alrosa and Marinychev to the sanctioned entities to “avoid confusion,” as the import ban was announced Dec. 18 but didn’t go into effect until Jan. 1, while the individual listings are effective immediately upon publication.
“In line with the diamond ban we have introduced with the 12th package of sanctions, the EU today lists Alrosa, the largest diamond mining company in the world & its CEO,” Josep Borrell Fontelles, the EU’s high representative for foreign affairs, said on X Wednesday.
“This is part of our coordinated efforts at G7 level to deprive Russia of this important revenue source.”
The Group of Seven nations (G7) announced last February that they would be working together to cut off the Russian government’s sources of revenue, including via tighter sanctions on diamonds.
The G7 nations are the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom.
In early December, following nearly a year of discussions around proposals from multiple industry organizations, the G7 issued a statement announcing all of its member nations that hadn’t done so already would ban the import of Russian diamonds beginning Jan. 1.
The EU, which is a non-enumerated member of the G7, announced its ban on Russian diamonds a couple weeks later.
The announcement provided details on the scope of the ban—lab-grown diamonds and finished jewelry eventually will be part of it—and how the EU plans to track diamonds through the supply pipeline to ensure they are not from Russia.
Alrosa has been under sanction in the U.S. since February 2022.
President Joe Biden signed an executive order banning the import of Russian diamonds the following month, though Russian diamonds cut and polished in other countries, like India, still are able to enter the U.S. because they are considered products of the country where they are “substantially transformed.”
The substantial transformation pathway is slated to close March 1, per the G7’s statement.
Marinychev was sanctioned by the U.S. in July, two months after he was named Sergey Ivanov Jr.’s successor.
More on Policies & Issues
The Latest
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 MonthsThe company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care ProgramThe nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
