Russia Doubles Rough Exports to India in August
November 09, 25
(IDEX Online) - Russian exports of rough diamonds to India more than doubled during August, according to India's Ministry of Commerce and Industry.
They surged by 134 per cent to $31.3m compared with sales for the same period in 2024, reflecting a significant short-term rebound despite challenging market conditions and sanctions.
Russian exports to India peaked in 2023, at over $1bn for the year, and fell sharply in 2024 to $650m.
The G7 and EU nations first imposed sanctions on Russian diamonds in January 2024. They subsequently reduced the size threshold and included goods regardless of where they were cut and polished.
India has not sanctioned Russian diamonds, although it has been severely hit by 50 per cent tariffs on all exports to the US.
Russian exports to India for January to August 2025 were $342.1m, according to India's Ministry of Commerce and Industry, a year-on-year decline of 40 per cent.
Pic of Russian rough diamonds, courtesy Alrosa.