Saturday, October 26, 2024

EU Imposes Sanctions on Alrosa and CEO in Latest Move Against Russian Diamonds

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.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

Related Articles

Latest Articles