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
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
