It’s the latest in a string of developments involving Russia and Russian companies following the Feb. 24 invasion of Ukraine.
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The Russian diamond miner’s membership had been a point of contention, causing major companies to leave the organization.
It’s a question that’s been on Editor-in-Chief Michelle Graff’s mind since Feb. 24.
Iris Van der Veken has quit while Pandora and Richemont are leaving RJC, citing the council’s soft stance on Russian companies.
The retailer joins Signet Jewelers and Brilliant Earth in refusing to purchase Russian diamonds.
Foreign Secretary Liz Truss announced 65 new sanctions Thursday.
The news preceded announcement of the company’s full-year results, which were strong.
Foerster said she stepped down March 10, and the office will close by the end of April.
Signet Jewelers, GIA, and designers Dorian Webb and Bibi van der Velden join the list of organizations and individuals aiding Ukraine.
The Jewelers Vigilance Committee has shared updated guidance on the executive order, which was issued Friday.
Penned by the Global Gold Transparency Initiative, it outlines steps the industry can take to ensure it’s not sourcing Russian gold.
Immediate Past President Anna Martin will step back into the role.
Anglo American is also donating $5 million for humanitarian relief in Ukraine, it said in a statement.
The company is also suspending its membership and halting financial support of the Natural Diamond Council.
Proceeds will be donated to the Ukrainian National Women’s League of America.
The longer Russia’s assault on Ukraine continues, the more complicated the situation becomes for the jewelry industry.
The sanctions are not a total ban on doing business with Alrosa in the U.S., but they still will have an impact on the jewelry industry.