The European Union (EU) declared on Wednesday the inclusion of Russian diamond mining giant Alrosa and its CEO, Pavel Alekseevich Marinychev, on its sanctions roster.
Josep Borrell, the EU’s foreign policy chief, conveyed via the social media platform X, “In line with the diamond ban we have introduced with the 12th package of sanctions, the EU today lists Alrosa, the largest diamond mining company in the world, and its CEO.”
Recently, the G7 nations unveiled plans for a direct embargo on Russian diamonds, effective January 1, 2024. Following this, phased restrictions on indirect imports of Russian gems are anticipated to commence around March 1. Additionally, a new system aimed at tracing the origins of these gems is scheduled for implementation in September.
Borrell emphasized, “This is part of our coordinated efforts at G7 level to deprive Russia of this important revenue source.”
Established in 1992, Alrosa currently represents more than 90% of Russia’s total diamond production.
The EU’s restrictive measures, focused on actions undermining or jeopardizing Ukraine’s territorial integrity, sovereignty, and independence, now extend to nearly 1,950 individuals and entities.
At the time of reporting, Alrosa had not responded to immediate requests for comment regarding the imposed sanctions.
