Diamond giant Alrosa PJSC said it mined a 390.7-carat diamond of jewelry quality, the largest to be recovered in Russia a decade.
The company, which is under sanctions linked to the Russian invasion of Ukraine, found the diamond at the Mayat mine in Yakutia. The stone is of non-standard shape and bordered by a yellow-brown halo, the company said in a statement on Sunday. It’s the largest gem-quality diamond mined in Russia since 2013.
Attempts to stop the sale of Russian gems in Europe have met resistance from importer nations like Belgium, who argue doing so would just shift the trade elsewhere. But there is growing speculation that G-7 nations — Canada, France, Germany, Italy, Japan, UK and US — and the EU will announce further restrictions this month.
Alrosa’s sales took a hit after US sanctions were first announced, but recovered by shifting volumes to Asia, mainly India.
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