War in Ukraine: Tiffany Bans Russian-Mined Diamonds

By John Jeffay / March 27, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Tiffany & Co says it has stopped sourcing diamonds mined in Russia, which are said to account for a third of its general supply.It's the second major US jeweler to implement a boycott on newly-mined stones from Russia in response to its invasion of Ukraine. Signet said last week it would not accept precious metals of diamonds from Russia, even if suppliers were not subject to sanctions in their own countries.US sanctions prohibit the importation of rough stones from Russia, but allow polished gems because they are deemed to have been substantially transformed.Tiffany says the ban on Russian stones was brought in on 21 March and covers all but melee diamonds - under 0.18-cts - which are harder to track. Rough diamonds typically take three months to work their way through the supply chain, so some stones mined in Russia after the invasion may still reach customers."Tiffany & Co. has been a leader in championing ethical sourcing practices for over 20 years. These bold changes reflect our continued effort to ensure that we set the bar high not only for ourselves, but for the entire industry," said CEO Anthony Ledru. "We are deeply concerned about the ongoing crisis in Ukraine."

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