Russia to Impose Diamond Export Duties This Year
The Russian finance ministry is discussing a lenient export tariff scheme with Alrosa to support local diamond cutters. Officials state the duties will target stones that are cost-effective to process domestically as the industry faces ongoing sanctions and production declines.
Xurve View
Xurve View
Russia will impose export duties on select diamonds this year to protect its domestic cutting industry. The move targets specific stones that are cost-effective to process locally as the sector faces a loss of technical expertise. For investors, the tariffs signal a shift in how the world's largest diamond producer by volume manages its supply chain under Western sanctions.
