The jeweler has taken a stance against Russian-mined stones, which accounted for about one-third of its general supply.
But this is an easier proposition for Tiffany, which since 2020 has offered its clients a full supply chain dossier on all stones weighing in excess of 0.18 carats. The jeweler’s new ban on Russian diamonds, however, extends to all diamond sizes. Tiffany says it has fully stopped the purchase of rough diamonds from Russia, as well as stones that were mined in Russia and cut and polished elsewhere.
According to a spokesperson, about one-third of the world’s diamond supply comes from Russia and Tiffany’s own supply chain was on par with these numbers. The jeweler does not expect any supply chain constrictions, it said, and has taken measures to ensure a smooth transition.
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