Rebecca Foerster, the Alrosa USA president until April this year, resigned her position citing the geopolitical situation. Only a day after her resignation, US President Joe Biden banned Russia from importing rough or polished diamonds into the United States in response to Russia’s invasion of Ukraine.
Alrosa, the world’s leading diamond producer by volume, is one-third owned by the Russian Federation.
Rapaport’s Article on ‘The Diamond Origin Dilemma by Avi Krawitz, Explains further how Russia’s invasion of Ukraine is another defining moment for the diamond industry.
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