{"id":39296,"date":"2022-06-06T12:22:31","date_gmt":"2022-06-06T09:22:31","guid":{"rendered":"https:\/\/www.ukrgate.com\/eng\/?p=39296"},"modified":"2022-06-06T12:22:35","modified_gmt":"2022-06-06T09:22:35","slug":"consequences-of-sanctions-russia-has-reduced-diamond-exports-to-india-and-europe","status":"publish","type":"post","link":"https:\/\/www.ukrgate.com\/eng\/?p=39296","title":{"rendered":"Consequences of sanctions: Russia has reduced diamond exports to India and Europe"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>KYIV.\u00a0UkraineGate , 6 , June , 2022 | World News.\u00a0<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Russia has reduced diamond exports to major markets &#8211; India and Europe.\u00a0Due to the sanctions imposed on the Russian company &#8220;ALROSA&#8221;, there are problems with payment.\u00a0This was reported by Russian media .<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Details<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Russian diamond mining companies are losing exports but not losing revenue from diamond sales.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Ministry of Industry and Trade of India (the world&#8217;s largest market for rough diamonds), in March imports of rough and non-industrial diamonds from which diamonds are produced amounted to 209 thousand carats &#8211; twice less than in March 2021.&nbsp;From January to March, Russia delivered 718,000 carats to India against 1.3 million in the same period last year.&nbsp;At the same time, the value of imports in money in March increased by 27% to $ 78 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, Russian diamond supplies to Europe also declined in March, but not in value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Eurostat, Russian imports to the EU (Belgium) amounted to 1.5 million carats, which is three times less than in March 2021.&nbsp;However, the value of all imports in March was 185 million euros against 162 million euros a year ago.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The EU, the United States and the United Kingdom have imposed sanctions on ALROSA.&nbsp;As for America, the country has banned the direct import of Russian gems, but does not ban the import of diamonds that have been processed in other countries.<strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The publication reminds that India does not support sanctions against Russia, but there were difficulties with the payment.&nbsp;According to Bloomberg, Indian traders discussed in April with &#8220;ALROSA&#8221; ways to buy diamonds, including the currency of payment: rubles or rupees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bank of America analysts forecast a 15% rise in prices amid high demand and falling supply.\u00a0Another major player in the De Beers market is limited in production growth, so price growth, according to analysts, may continue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source:\u00a0Ukrgate<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KYIV.\u00a0UkraineGate , 6 , June , 2022 | World News.\u00a0 Russia has reduced diamond exports to major markets &#8211; India and Europe.\u00a0Due to the sanctions imposed on the Russian company &#8220;ALROSA&#8221;, there are problems with payment.\u00a0This was reported by Russian media . Details Russian diamond mining companies are losing exports but not losing revenue from [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":39307,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10474],"tags":[2023,813,996,1064,1854],"class_list":["post-39296","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world-news","tag-diamond","tag-russia","tag-ukraine","tag-war","tag-world-news"],"_links":{"self":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/39296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39296"}],"version-history":[{"count":1,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/39296\/revisions"}],"predecessor-version":[{"id":39314,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/39296\/revisions\/39314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/media\/39307"}],"wp:attachment":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}