Russia occupied more than a third of the world diamond market – Kommersant
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At the end of 2022, Russia occupied more than a third of the global diamond production market. However, Europe and the UAE became the export leaders, RIA Novosti reports.
According to the Kimberley Process (a 2003 certification system to prevent the flow of rough diamonds from conflict zones into world markets), the world produced 119.96 million carats in 2022. Of these, 41.9 million were in Russia, accounting for 35% of the market. Before this, Russia’s share in world diamond production until 2022 did not exceed 33%.
African countries produced the largest volume of diamonds – 61.6 million carats. Botswana produced the most among African countries – 24.5 million carats. However, the world leaders in diamond production in 2022 were Canada (16.3 million carats) and Brazil (158 thousand carats).
Among the exporters of these precious stones, Europe and the United Arab Emirates became the leaders – 75.2 million carats (22.7%) and 89.4 million carats (27% of world exports), respectively. In terms of supply volumes, Russia (36.7 million carats), Botswana (27.1 million carats), India (26.1 million carats), Canada (16.3 million carats) also ranked in the top.
On October 27, the head of the European Commission, Ursula von der Leyen, announced that the European Union is discussing the 12th package of sanctions against Russia. It includes a ban on the export of Russian diamonds. In September, Belgian Prime Minister Alexander de Croo presented leading representatives of the diamond industry plan to move away from Russian diamonds.
Read more about the diamond market in the material “Best Friends of Rubles”.
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