The value of Russia’s rough-diamond production surpassed Botswana’s for the first time in 2023 even as sanctions and a weak market hindered the country’s diamond sales.
The growth comes despite increased sanctions, including the addition of the European Union to the list of those banning Russian diamonds and harsher rules by the US regarding goods substantially changed in a third-party country, such as India.
Last year, Russia produced 37.3 million carats of rough, with a total value of $3.61 billion, at an average price of $97 per carat. In 2023, Botswana produced 25.1 million carats, with a total value of $3.28 billion, at an average price of $131 per carat.
Source: Rapaport News
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