In a remarkable discovery, Russian diamond giant Alrosa PJSC has announced the recovery of a 390.7-carat diamond of exceptional jewelry quality, marking the largest such find in Russia in the past decade. The company, currently facing sanctions in connection with the Russian invasion of Ukraine, made this significant discovery at the Mayat mine in Yakutia. This extraordinary gem exhibits a non-standard shape and is adorned with a captivating yellow-brown halo, according to an official statement released by Alrosa on Sunday. It stands as the largest gem-quality diamond extracted from Russian soil since 2013.
The uniqueness of this discovery is emphasized by Alrosa, which states, “A combination of mass, shape, and color makes the stone unique.”
Alrosa, a state-controlled entity that rivals industry leader De Beers in gem production, has lately directed its attention toward cutting and marketing its most substantial gemstones through international auction houses, including renowned institutions like Christie’s. However, the imposition of sanctions by countries such as the United States and the United Kingdom, which prohibit the import of Russian gem-quality diamonds, may pose challenges to any potential sale of this newly unearthed treasure.
Efforts to curtail the sale of Russian gemstones in Europe have faced resistance from importer nations like Belgium, who argue that such actions would merely shift the trade to other regions. Nonetheless, there is a mounting anticipation that the Group of Seven (G-7) nations — comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States — along with the European Union (EU), may announce further restrictions in the coming month.
Alrosa witnessed a decline in its sales following the initial imposition of U.S. sanctions but managed to rebound by redirecting its volumes primarily to Asia, notably India.
