Sanctions Row: Buyer Sues over $645,000 Diamonds

By John Jeffay / March 05, 2023 / www.idexonline.com / Article Link

(IDEX Online) -  A US jewelry buyer who spent $645,000 on diamonds using a Russian-linked debit card is taking legal action - claiming she received neither the goods nor a refund.Maria Zurabova, from Florida, says  made her purchase at jeweler Royal Star Inc, in Manhattan's Diamond District, paying paid with a card linked to Alfa Bank - Russia's biggest private bank - which she held because she has friends and family in the country.The US fintech business Square Inc - subsequently rebranded as Block Inc - took the payment but claims it couldn't process it because of sanctions imposed on 26 March after Russia invaded Ukraine.However Zurabova insists she made the purchase two weeks earlier, so it shouldn't have been affected. She says she has received neither the goods, nor had her money returned. "Despite the fact that none of the sanctions affected Zurabova's transactions, Square claimed that Alfa Bank was sanctioned and that therefore it could not process Zurabova's purchase," says her complaint, filed in a San Francisco federal court, where Square is based, according to a report by Bloomberg News.

Recent News

Another 'Bubble Check' for the gold sector

September 08, 2025 / www.canadianminingreport.com

Gold stocks continue to hit new highs

September 08, 2025 / www.canadianminingreport.com

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok