EU Imposes Sanctions on Alrosa, the World’s Biggest Diamond Miner, in Support of Ukraine

         

The European Union has imposed sanctions on Alrosa, the largest diamond mining company, and its CEO as part of the ongoing support for Ukraine against Russia. This move will freeze Alrosa’s assets in Europe and ban EU citizens and companies from providing funds to the company.

EU Sanctions Alrosa and CEO

The European Union has taken a significant step in support of Ukraine by imposing sanctions on Alrosa, the world’s largest diamond mining company, and its CEO, Pavel Marinychev. This decision is part of the EU’s ongoing commitment to Ukraine in the conflict with Russia.

Impact on Alrosa and CEO

The sanctions mean that Alrosa’s assets in Europe will be frozen, and EU citizens and companies will be prohibited from providing funds to the company. Additionally, the CEO, Pavel Marinychev, will face a travel ban in Europe. The move specifically targets Alrosa, which plays a crucial role in Russia’s diamond production, accounting for approximately 90% of the country’s output.

Support for Ukraine

The European Council reiterated its strong commitment to supporting Ukraine and its people. The EU has also previously banned the import, purchase, or transfer of Russian non-industrial natural and synthetic diamonds and diamond jewelry, further targeting Russia’s diamond industry.

Widespread Sanctions

The EU’s decision to impose sanctions on Alrosa and its CEO adds to the comprehensive measures taken, with sanctions already enforced on almost 1,950 individuals and entities. These sanctions are directed at entities such as companies, banks, or government agencies that are perceived to undermine or threaten Ukraine’s territorial integrity, sovereignty, and independence.

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