The war in Ukraine has brought to light a sensitive supply chain: that of Russian diamonds.
For ethics reasons, some major jewellery industry groups are turning away from these now “conflict” diamonds and reorganising their supply chains. Even the integrity of the RJC (Responsible Jewellery Council) – recently quitted by Kering and Richemont – has been called into question because of its inaction on the subject, particularly with regard to its Russian member Alrosa.
But the opacity of the flow of Russian diamonds, exported and then “laundered” in India, makes this task very difficult. In this context, one wonders what the impact will be on the requirements and practices of companies in terms of transparency and traceability for this industry…
The 2 articles below illustrate in a complementary way the complexity of the problem.
Article 1 – The Guardian – https://www.theguardian.com/world/2022/mar/19/jewellery-industry-accused-of-silence-over-russian-diamonds
Article 2 – Vogue Business – https://www.voguebusiness.com/companies/richemont-and-kering-exit-responsible-jewellery-council-amid-russia-ties