Russian sanctions could boost conflict-free, lab-grown diamonds

The US’s ban on Russian diamonds is burnishing the appeal of lab-grown stones.

Russia contributes nearly a third of the global diamond supply, according to the US Treasury, with around 90% of Russian production coming from state-backed Alrosa, the world’s largest diamond mining company.

Industry experts are expecting a two-digit jump in diamond prices in coming months—and a boost in sales of lab-grown stones.

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