The Russian diamond mining company ALROSA has resumed supplies of rough diamonds to India. The export of products was temporarily suspended due to the imposition of sanctions by Western countries against the Russian Federation.
Currently, Russia and India make payments in euros through German banks. This measure leads to delays in transactions for up to a week. According to Colin Shah, Chairman of The Gem and Jewellery Export Promotion Council, Indian diamond importers are expecting a “rupee-ruble” payment mechanism to be introduced soon.