Peskov sure Russia will find alternatives for diamond exports – Kommersant

Commenting on the plans of the European Union to limit the trade in Russian diamonds, Dmitry Peskov, the press secretary of the President of Russia, said that “the world market is mobile” and “rich in alternative directions.” He also urged to wait for specific EU decisions.

“Let’s wait for decisions. As practice shows for other goods, other products, if they are no longer bought somewhere, they are bought elsewhere. Gaps do not form here,” the spokesman said at a briefing.

Yesterday, May 18, European Council President Charles Michel said at a briefing in Hiroshima before the G7 summit that the European Union would work to limit the trade in Russian diamonds. In today’s joint statement the G7 countries also announced plans to restrict the trade and use of diamonds mined, processed or produced in Russia.

As reported in August 2022, citing sources, the agency Bloomberg, the Russian company ALROSA, which accounts for 27% of the world and 95% of Russian diamond production, has almost restored exports to pre-war levels. According to the agency, exports brought the company $250 million per month, that is, only $50-100 million less than in February.

In 2021, Russia increased the export of rough diamonds by 26% to 48.6 million carats, by $4 billion. Most Russian diamonds were sold to Belgium (by $1.7 billion), the UAE ($1.2 billion), and India ($755). million). The total volume of diamond production amounted to 39.1 million carats.

Anastasia Larina