Clock Ticking on Swiss Watches' Raw Materials from Russia

Russia is a major supplier of diamonds, gold and other precious metals to luxury watchmakers. Fabrice COFFRINI AFP
Russia is a major supplier of diamonds, gold and other precious metals to luxury watchmakers. Fabrice COFFRINI AFP
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Clock Ticking on Swiss Watches' Raw Materials from Russia

Russia is a major supplier of diamonds, gold and other precious metals to luxury watchmakers. Fabrice COFFRINI AFP
Russia is a major supplier of diamonds, gold and other precious metals to luxury watchmakers. Fabrice COFFRINI AFP

Diamonds shine brightly at this year's Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss watch industry to produce more subdued designs.

Russia is a major supplier of diamonds, gold and other precious metals to the luxury watchmakers exhibiting at Watches and Wonders, one of the world's top salons for the prestige industry, AFP said.

The Russian group Alrosa -- the world's largest diamond mining company -- was hit by US sanctions within hours of the Kremlin-ordered invasion of Ukraine on February 24.

According to US Treasury figures, it accounts for 90 percent of Russia's diamond mining capacity, and 28 percent globally.

And while trade between Switzerland and Russia is modest, gold is the chief import, ahead of precious metals such as platinum followed by diamonds not mounted or set, according to the Swiss customs office.

Compared to other sectors of the Swiss economy, "watchmaking was a branch that was less affected than others by supply problems in 2021", Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, told AFP.

But that may no longer be the case, he acknowledged, adding that it was hard to assess the repercussions for the watch industry at this stage.

"There are obviously reserves. Afterwards, we will have to see, depending on how long the conflict lasts," Pasche said.

- Recycled gold and palladium -
The Swiss luxury giant Richemont owns the Cartier and Van Cleef & Arpels jewelry firms, plus eight prestigious watch brands, including Piaget and IWC.

The group took the lead on Wednesday, saying all its brands have stopped sourcing diamonds from Russia.

The move will create a lot of work on the supply chain to find responsibly-sourced, quality diamonds from elsewhere, Richemont chief executive Jerome Lambert told a press conference.

Gold supply is of less concern. For a decade or so, Richemont has been sourcing recycled gold for watchmaking, bought from industry and the electronics sector.

For palladium, used for instance for wedding and engagement rings, the group decided "ahead of the sanctions" to switch to suppliers specializing in recycled palladium, Lambert said.

- Draining the stocks -
At Patek Philippe, one of the most prestigious Swiss brands, the firm's president is counting on his stockpile to ride out the storm.

"Luckily I produce in small quantities," said Thierry Stern, who represents the fourth generation of his family at the company helm.

"So I don't feel any difference yet," he told AFP. For 2022, Patek Philippe plans to manufacture 66,000 timepieces.

"And if I can't find certain stones, I can always do engraving," said the head of the brand, which relies on a wide range of disciplines including ceramics, marquetry and enamel.

H. Moser, a niche brand producing 2,000 watches a year for wealthy collectors, struck much the same tone.

"Purchases are made in advance. For example, for the casings that I want to make in 2023, I have already bought all the gold I need," said boss Edouard Meylan.

"But maybe in six months' time some of our suppliers will call to push back the deadlines because they haven't received the materials," he admitted.

Concerns over raw materials "will drive up prices, of course", said Jon Cox, an industry analyst with the Kepler Cheuvreux financial services company.

However, compared to other sectors, luxury firms have more leeway to pass on costs to customers, he added.

At the Watches and Wonders salon in Geneva, where 38 brands are exhibiting until Tuesday, the displays are brimming with diamonds, reflecting the "generally upbeat mood" of the industry this year after a prosperous 2021.

However, given the war and its repercussions, "I imagine product development will move to more subdued luxury goods", Cox said.



iRead Marathon Records over 6.5 Million Pages Read

Participants agreed that the number of pages read was not merely a numerical milestone - SPA
Participants agreed that the number of pages read was not merely a numerical milestone - SPA
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iRead Marathon Records over 6.5 Million Pages Read

Participants agreed that the number of pages read was not merely a numerical milestone - SPA
Participants agreed that the number of pages read was not merely a numerical milestone - SPA

The fifth edition of the iRead Marathon achieved a remarkable milestone, surpassing 6.5 million pages read over three consecutive days, in a cultural setting that reaffirmed reading as a collective practice with impact beyond the moment.

Hosted at the Library of the King Abdulaziz Center for World Culture (Ithra) and held in parallel with 52 libraries across 13 Arab countries, including digital libraries participating for the first time, the marathon reflected the transformation of libraries into open, inclusive spaces that transcend physical boundaries and accommodate diverse readers and formats.

Participants agreed that the number of pages read was not merely a numerical milestone, but a reflection of growing engagement and a deepening belief in reading as a daily, shared activity accessible to all, free from elitism or narrow specialization.

Pages were read in multiple languages and formats, united by a common conviction that reading remains a powerful way to build genuine connections and foster knowledge-based bonds across geographically distant yet intellectually aligned communities, SPA reported.

The marathon also underscored its humanitarian and environmental dimension, as every 100 pages read is linked to the planting of one tree, translating this edition’s outcome into a pledge of more than 65,000 trees. This simple equation connects knowledge with sustainability, turning reading into a tangible, real-world contribution.

The involvement of digital libraries marked a notable development, expanding access, strengthening engagement, and reinforcing the library’s ability to adapt to technological change without compromising its cultural role. Integrating print and digital reading added a contemporary dimension to the marathon while preserving its core spirit of gathering around the book.

With the conclusion of the iRead Marathon, the experience proved to be more than a temporary event, becoming a cultural moment that raised fundamental questions about reading’s role in shaping awareness and the capacity of cultural initiatives to create lasting impact. Three days confirmed that reading, when practiced collectively, can serve as a meeting point and the start of a longer cultural journey.


Imam Turki bin Abdullah Royal Reserve Launches Fifth Beekeeping Season

Jazan’s Annual Honey Festival - File Photo/SPA
Jazan’s Annual Honey Festival - File Photo/SPA
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Imam Turki bin Abdullah Royal Reserve Launches Fifth Beekeeping Season

Jazan’s Annual Honey Festival - File Photo/SPA
Jazan’s Annual Honey Festival - File Photo/SPA

The Imam Turki bin Abdullah Royal Nature Reserve Development Authority launched the fifth annual beekeeping season for 2026 as part of its programs to empower the local community and regulate beekeeping activities within the reserve.

The launch aligns with the authority's objectives of biodiversity conservation, the promotion of sustainable environmental practices, and the generation of economic returns for beekeepers, SPA reported.

The authority explained that this year’s beekeeping season comprises three main periods associated with spring flowers, acacia, and Sidr, with the start date of each period serving as the official deadline for submitting participation applications.

The authority encouraged all interested beekeepers to review the season details and attend the scheduled virtual meetings to ensure organized participation in accordance with the approved regulations and the specified dates for each season.


Hail Municipality Named Arab Green City For 2024-2025

The achievement establishes Hail as a leading Arab model for sustainable urban development - SPA
The achievement establishes Hail as a leading Arab model for sustainable urban development - SPA
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Hail Municipality Named Arab Green City For 2024-2025

The achievement establishes Hail as a leading Arab model for sustainable urban development - SPA
The achievement establishes Hail as a leading Arab model for sustainable urban development - SPA

The Hail Region Municipality has secured first place in the Arab Green City award for 2024-2025 at the 15th session of the Arab Towns Organization.

This recognition honors the municipality’s commitment to environmental sustainability, the expansion of green spaces, and the implementation of urban practices that elevate the quality of life, SPA reported.

The award follows a series of strategic environmental initiatives, including large-scale afforestation, the modernization of public parks, and the adoption of eco-friendly solutions to enhance the urban landscape and resource efficiency.

By aligning its projects with the sustainability goals of Saudi Vision 2030, the municipality continues to foster a healthy and safe environment for residents and visitors.

This achievement establishes Hail as a leading Arab model for sustainable urban development.