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.
Editors' Picks
Sponsored by
More on Policies & Issues
The Latest
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
FinancialsSep 28, 2026
Instappraise, Jewelers Mutual Look to Simplify Jewelry InsuranceThrough a new system integration, customers can now receive instant personal jewelry insurance quotes at the time of appraisal.
Weekly QuizSep 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
MajorsSep 25, 2026
Sherwood Family Buys Back Daniel’s Jewelers from Private EquityThe Sherwood family and AJS Creations CEO Tejas Shah purchased the jewelry chain back from Palladium Equity Partners.
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.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
MajorsSep 23, 2026
Kay Jewelers’ New Campaign Goes ‘All In’ on LovePart of its brand relaunch, the marketing around the campaign includes a contest involving a jacket set with 550 diamonds.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
