EU targets world's biggest diamond miner as part of Russia war sanctions
ABC News
The European Union has imposed sanctions on the world’s biggest diamond mining company and its chief executive officer as part of what it says is its “unwavering commitment” to Ukraine in the war against Russia
BRUSSELS -- The European Union imposed sanctions on the world’s biggest diamond mining company and its chief executive officer on Wednesday as part of what it called its “unwavering commitment” to Ukraine in the war against Russia.
The move targeted Alrosa, which accounts for about 90% of Russia’s diamond production, and CEO Pavel Marinychev. The EU headquarters said the company “constitutes an important part of an economic sector that is providing substantial revenue” to Moscow.
It means Alrosa’s assets in Europe will be frozen and EU citizens and companies will be barred from making funds available to the company. Marinychev, who was appointed CEO last May for three years, also faces a travel ban in Europe.
The EU had already banned the import, purchase or transfer of Russian non-industrial natural and synthetic diamonds and diamond jewelry from Jan. 1. The measure applies to diamonds originating in Russia, exported from Russia, transiting through Russia and Russian diamonds processed elsewhere.
“The European Council confirmed the EU’s unwavering commitment to continue to support Ukraine and its people for as long as it takes,” it said.
