russians are buying branded jewellery to circumvent sanctions

Guild Hall reports on this.

In particular, according to customs data, direct shipments of jewellery from France to russia under the relevant customs code fell sharply by 91 per cent — from 21 million dollars in 2021 to less than two million dollars in 2023. The total volume of legal direct imports of Cartier goods into the russian federation officially fell from $50.6 million in 2021 to $5.5 million in 2023.

“However, a stable parallel supply network has been established via Kazakhstan, which is a member of the Eurasian Economic Union. Through this channel, luxury goods flow freely into russia without any customs controls,” the report states.

As a result, the Richemont Group’s imports to Kazakhstan rose from zero in 2021 to $23 million in 2022, and by 2025 had already reached nearly $47 million. This effectively mirrors the pre-war level of imports for the entire russian federation, Mediapart points out.

The main growth in consumption of luxury goods in the region was concentrated in Almaty, where a Cartier boutique opened in 2025. Sales at this single Kazakhstani store increased almost tenfold compared with 2019, reaching approximately $57 million in 2025.

This figure is comparable to the commercial performance of the brand’s much larger flagship store on the Champs-Élysées in Paris, Mediapart noted.

“This massive commercial surge took place against a backdrop where the average monthly salary in Almaty in 2025 was only around $1,250,” writes Guild Hall.

The Swiss parent company, Richemont, states that it completely ceased all exports, sales and distribution to russia as early as March 2022, and categorically denies any breaches of sanctions, although the group’s management declined to comment on the “abnormal growth in shipments” to Kazakhstan.

Sales are actively supported by well-known brand representatives and former employees who have maintained direct contacts with Russian VIP clients. In particular, according to Mediapart, Tatyana Torchilina, the former director of Cartier’s flagship boutique in Moscow, is currently working at the branch in Almaty, whilst continuing to live permanently in the russian capital. Torchilina uses exclusive private art evenings, history lectures and sponsored gala events in the russian capital to covertly boost sales.

In response to journalists’ enquiries, Torchilina stated that she has not been an employee of Richemont for some time. Earlier, in March 2022, the Richemont group demonstratively withdrew from the Responsible Jewellery Council, and at the time, Cartier’s CEO Cyril Vigneron emphasised that the company’s values were incompatible with membership of organisations whose members support wars.

Additional under-the-counter sales on the grey market are being conducted directly via social media by other former employees of the closed Moscow boutique. In particular, luxury goods are being offered to russian customers via a Telegram channel: white gold bracelets for ten thousand dollars, even more expensive Baignoire watches, and so on.

Source: Ekonomichna Pravda