Surge in Belgian Imports of Russian Diamonds

By John Jeffay / March 14, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Belgium's imports of Russian diamonds in January rose by 36 per cent year-on-year, according to the government-run Belgian Foreign Trade Agency (BFTA).Rough imports were ???EUR? ?132m ($141m) in January 2023, compared with ???EUR? ?97m ($104m) in January 2022, just before Russia invaded Ukraine.The US imposed sanctions on Russian diamonds but the 27 EU nations did not, and Belgium has repeatedly warned that they would harm its own economy far more than Russia's.Diamond imports rose, but those of gold and other precious metals fell by 23 per cent, mainly as a result a global slowdown in jewelry demand.Figures provided by BFTA to the De Morgen newspaper showed Belgium's total imports from Russia during 2022 surged by more than two thirds to a record ???EUR? ?12.8bn ($13.7bn), largely due to increases in the price of gas.

Recent News

Gold stocks pause along with metal price

September 07, 2026 / www.canadianminingreport.com

Canadian mining exploration expenditure expected to jump in 2026

September 07, 2026 / www.canadianminingreport.com

Gold stocks pull back after historical surge

August 31, 2026 / www.canadianminingreport.com

Inflows to gold sector jump, but for other metals muted

August 31, 2026 / www.canadianminingreport.com

TSX, TSXV mining equity investment still rising significantly in 2026

August 24, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok