Following the adoption of the 12th package of anti-Russian sanctions, including a ban on the import of Russian diamonds to Europe from January 1, 2024, the European Union included the national diamond mining giant Alrosa and its CEO Pavel Marinychev in the sanctions list.
Sanctions against the company, as follows from the press service of the Council of Europe, were introduced because the largest diamond mining company in the world is state-owned and produces more than 90% of all Russian diamonds, thereby financing the actions of the authorities.
Therefore, companies are responsible for “actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine.”
The head of European diplomacy, Josep Borrell, highlighted in X that the sanctions against the Russian diamond industry are being taken strictly “in coordination with the G7 countries.”
Against the background of the news, Alrosa shares on the Moscow Stock Exchange fell: from 70.06 rubles per share at noon on January 3 to 69.5 rubles at 15:00 Moscow time.
Alrosa previously appeared in the ranking of the largest state client companies most loyal to small and medium-sized businesses, according to the SME Corporation.
Author:
Ekaterina Alipova
Source: RB
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