The mass exodus from any involvement with Russian companies continues this week as it is announced that diamond mining company Alrosa is no longer a member of the Natural Diamond Council (NDC).

This follows the Russian state-owned company’s call to part ways with the Responsible Jewellery Council (RJC) on similar terms last week.

The pair of announcements follow Russia’s invasion of Ukraine and sanctions by the US Treasury and others on Alrosa and its CEO, whose father is among the most influential figures in Putin’s government.

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It should be noted that both organisations have left the door open for Alrosa to return as a member in the future.

For the time being, however, the jewellery industry has for the most part decided to boycott Alrosa, with the view being that buying its diamonds is essentially funding Russia’s war with Ukraine.

A short statement from the NDC reads: “The board of directors of the Natural Diamond Council has today received Alrosa’s decision to suspend its membership.

“In suspending its membership, Alrosa has stepped down from the board and will cease all financial contributions.

“NDC is a global organization whose members’ operations span six continents and more than a dozen countries including Canada, South Africa, Botswana and Australia.

“Our mission is to enhance the world of natural diamond [jewellery], in support of more than 10 million industry employees and their families around the world, and we will be continuing to promote the industry alongside our many global partners.

“As an organization, our thoughts remain with people impacted by the current geopolitical crisis.”

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