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The world’s largest jewelry retailer Signet Jewelers announced the suspension of business cooperation with companies from the Russian Federation due to the situation around Ukraine. Among them is the diamond mining company Alrosa.
According to RIA Novosti, US President Joe Biden announced on March 11 a ban on the supply of luxury goods to Russia, including jewelry. Signet Jewelers is headquartered in the United States, Ohio. The company has more than 20 thousand employees.
Meanwhile, Russia has resumed deliveries of diamonds to India. Payments are made in euros through German banks.
India imports only about 10% of Alrosa’s total diamond production, but most Russian diamonds go to India for cutting and polishing.
On February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, EU, UK, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
