Alrosa Resumes Rough Shipments to India

By John Jeffay / March 21, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Alrosa's rough shipments to India have reportedly resumed, with payments being made in euro via banks in Germany.Supplies were suspended following Russia's invasion of Ukraine last month and the subsequent removal of Russian banks from SWIFT, the mechanism that enables foreign currency transactions.Alrosa, a third-owned by the Russian government, has now started shipping rough diamond consignments again, according to India's Economic Times.It quotes Colin Shah, (pictured) chairman of India's Gem & Jewellery Export Council (GJEPC), as saying: "Orders for these diamonds were placed in early March, according to the sightholding schedule of Alrosa. They are coming now."India relies heavily on Alrosa diamonds. In the first nine months of 2021 around $700m of rough was shipped directly from Russia to India.

Recent News

Energy outperforms gold and tech for first time in years

March 23, 2026 / www.canadianminingreport.com

Gold stocks crash along with metal price

March 23, 2026 / www.canadianminingreport.com

Mining stock ETFs slide, gold sector valuations high

March 16, 2026 / www.canadianminingreport.com

Rise in oil price a potential net gain for Canada

March 16, 2026 / www.canadianminingreport.com

Gold stocks slump partly on fears of cost increases

March 09, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok