On Monday, the World Federation of Diamond Bourses (WFDB) announced that the Moscow Diamond Bourse was suspending its membership.
The Moscow bourse temporarily suspended activity on March 7, two weeks after Russia invaded Ukraine.
Its president, Alex Popov, says the bourse, which predominantly sold polished for the local market, has been not that active for the last few years.
“First there was a COVID-19, and then omicron, and then the war started,” he says. “There was no point in going forward at that point. We didn’t want to be any part of war.”
He says that the bourse included members from eight countries, including Ukraine.
The bourse’s office letter to the WFDB said, “We look forward to see the end of hostilities and hope that we all will be able to return to normal in the future.”
In a statement, WFDB president Yoram Dvash said that Popov and the bourse “acted responsibly in shutting down its activities and suspending its membership in the WFDB.”
Photo courtesy of U.S. Department of State
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