Joe Biden and the EU have banned the import of all non-industrial diamonds from Russia. 30% of all diamonds come from Russia, via the Russian company Alrosa.
A third of Alrosa is owned by the Russian state and is responsible for 90% of Russia’s diamond-mining capacity. The sanctions also include the CEO of Alrosa, Sergey S. Ivanov, who has now stepped down, as he is counted among the “leaders or members of the board of directors” of the Russian government, and because he is the son of a sanctioned official Sergei B Ivanov, a close ally of Russian President Putin.
DeBeers, the market leader in diamonds, has assured that all their diamonds only come from their mines in Africa and Canada.