PJSC Alrosa, which is owned by the Russian state, accounts for over 90% of all Russian diamond production, representing a highly valuable revenue stream for the Kremlin.
The EU said Wednesday that Alrosa and its CEO Marinychev had been added to the list of sanctioned persons and entities for “actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.” “The company constitutes an important part of an economic sector that is providing substantial revenue to the government of the Russian Federation,” it added.
Around 1950 companies and individuals have now been slapped with EU sanctions since Russia moved its troops into Ukraine in February 2022.
The inclusion of Alrosa on the sanctions list follows a decision taken by the European bloc in December to ban the import, purchase or transfer of natural and synthetic diamonds from Russia. The ban was part of the bloc’s long-awaited 12th package of sanctions against Moscow since its invasion of Ukraine.
For the rest of this article: https://www.euronews.com/my-europe/2024/01/03/eu-adds-russias-biggest-diamond-mining-company-and-ceo-to-sanctions-list