The US Treasury has unveiled its latest series of sanctions targeting nearly 300 Russian entities, including a firm specializing in the export of rough and polished diamonds. This action by the Office of Foreign Assets Control (OFAC) comes on the heels of the two-year anniversary of Russia’s invasion of Ukraine and is also a response to the passing of opposition figure Aleksei Navalny.
Almazyuvelirexport, Russia’s state-owned diamond exporter, finds itself under the spotlight of OFAC’s punitive measures due to its involvement in the metals and mining sector, as outlined by the Treasury. These sanctions extend beyond the diamond industry, encompassing sectors such as finance, defense, and entities perceived to be supporting Russia’s military endeavors, in addition to those associated with Navalny’s detainment.
