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Russian Diamonds: The Prisoner’s Dilemma

The Russian invasion of Ukraine is changing the diamond industry’s governing dynamics. The last time something similar happened was after 9/11, when the American Congress adopted the Patriot Act in October 2001. Global business fundamentals had to change including for the diamond and jewelry industries. As a result, the Kimberley Process was born in 2003 […]

Crisis mismanagement

The Responsible Jewellery Council (RJC) finally broke its silence on Alrosa’s membership. The organization was forced to respond after such prominent members including Richemont, Kering, Pandora and Watches of Switzerland withdrew from the organization in protest of the Russian company’s continued involvement. Executive director Iris Van der Veken quit her job over the issue.