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De Beers Hikes Small Diamond Prices as Sanctions Cause Shortages

  • Diamond shortages emerge after US sanctions Russia’s Alrosa
  • De Beers produces relatively few of the smaller stones
The price of small rough diamonds has surged since the start of March.

The price of small rough diamonds has surged since the start of March.

Photographer: Simon Dawson/Bloomberg

De Beers has raised the price of smaller diamonds as sanctions on its Russian rival creates a growing shortage of some stones.

The price of small rough diamonds, the type that would end up clustered around the solitaire stone in a ring, has surged since the start of March as cutters, polishers and traders struggle to source supply after the US levied sanctions on Russia’s Alrosa PJSC, which accounts for about a third of global production.