ALROSA informs on the situation regarding the next coupon payment under Eurobond 2027

PJSC ALROSA (the Company) provides the following update on the coupon payment of $7,750,000 due 25 June 2022 on $500,000,000 Eurobonds issued by Alrosa Finance S.A. (Luxembourg) (the Issuer) and maturing in 2027.

Yesterday

Pandora casts out its net in Portugal

Pandora takes over 34 locations from its distributor Visão do Tempo to assume full ownership of its Portuguese business.

Yesterday

Zero VAT will turn diamonds into yet another investment vehicle within Russia

According to media reports from the Cheboksary Economic Forum, Deputy Finance Minister Alexei Moiseev, who is attending the forum, said that the government of the Russian Federation approved the introduction of a zero VAT rate on rough and polished diamonds...

Yesterday

Russian gold arrives in Switzerland

In May, Switzerland imported a cargo of gold from Russia for the first time since Russia launched a special military operation in Ukraine, which is evident from the published Swiss customs data, according to a report by Reuters.

Yesterday

WDC President calls on the KP to move forward or risk a two-tier market with dire consequences

Highlighting the proven ability of natural diamond resources to serve as a driver for the development of sustainable economies and societies, World Diamond Council President Edward Asscher warned that this potential is threatened if the Kimberley Process...

23 june 2022

Q&A: Jewelers Vigilance Committee’s Sara Yood

17 june 2022

(jckonline.com) - The deputy general counsel of the Jewelers Vigilance Committee, Sara Yood, has been very busy of late, helping the industry navigate the Russian sanctions imposed by the Biden administration, which include sanctions against Russian diamonds. Below, she talks about the current state of play regarding Russian goods and what may be coming in the future.

For now, the sanctions against Russian diamonds are limited to direct dealings with diamond miner Alrosa and buying rough or polished diamonds directly from Russian entities. However, they do allow for diamonds that are “substantially transformed” (meaning cut and polished) in another country. Could that change?

It’s certainly possible that we may see some kind of change, including changing the import ban to not allow for diamonds “transformed” elsewhere. A recent letter from members of Congress encouraged tightening that pathway. I think the chance of the Office of Foreign Assets Control [OFAC] adjusting their guidance on that is fairly high, as that is what happened with Burmese gemstones—first, they were directly banned, and then that was amended to Burmese rubies cut and polished elsewhere.