On January 3, the Council of the EU put the Russian diamond mining giant, Alrosa, which accounts for more than 90% of all Russian diamond production, and its CEO Pavlo Marinichev on the sanctions list.
The Council of the EU explained that "Alrosa" is the largest diamond mining company in the world, which belongs to the Russian state and which accounts for more than 90% of all Russian diamond production.
The company is an important part of the economic sector, which provides significant revenues to the government of the Russian Federation.
This decision complements the ban on the import of Russian diamonds, included in the 12th package of economic and individual sanctions of the EU, adopted on December 18, 2023 in connection with Russia's aggressive war against Ukraine.
The ban on Russian diamonds is part of a G7 effort to deprive Russia of an important source of income from the diamond trade.
In general, EU restrictive measures regarding actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine are currently applied to almost 1 individuals and legal entities.
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