How Ukraine-Russia war affect Diamond prices and what you should do about it

Did you know Russia has the world's largest diamond reserve? How sanctions over Russia affect natural diamond prices and what you should do about it.
LONDON - Feb. 27, 2022 - PRLog -- The world's largest rough diamond mining company Alrosa is based in Russia.

As an end result, the world's biggest diamond cutting and polishing center in and around Surat, India has halted operations, in anticipation of great disruptions in international supply.

They're also concerned that because of the war, the price of the rough diamond will see a steep increase.

"Due to higher gold and diamond prices, there is an order-based demand in the industry. There is a shortage of polished diamonds in the market and the Russia-Ukraine war is going to make the situation more critical for the industry," said a diamantaire.

"The Russia-Ukraine war has suddenly changed a few things in this sector,"

"Because of the interruption in logistics, the price of gold and diamonds will go up even further than we have seen last months. That's why we prefer lab-grown diamonds. They are ethical and not vulnerable to such changes." stated a representative from LE POT D'OR, a lab-grown diamond, and moissanite jewelry company.

When asked what should do someone who is thinking to buy an engagement ring or diamond jewelry the representative from said

"We expect that the diamond prices will increase up to 30%. I would suggest buying a premium ring made with lab-grown diamonds or moissanite as they last forever and cost less than a natural diamond ring. We at LE POT D'OR make sure that our jewelry is of the highest quality and all our materials are made ethically"

LE POT D'OR, Emiljano Babaj
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