EU sanctions Russian diamond firm Alrosa

The Council of the EU introduced on January 3 additional restrictive measures against the company PJSC Alrosa and its CEO Pavel Alekseevich Marinychev, listing them as among those responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.

PJSC Alrosa is the largest diamond-mining company in the world, owned by the Russian state and accounts for over 90 per cent of all Russian diamond production, and the company constitutes an important part of an economic sector that is providing substantial revenue to the government of the Russian Federation, the statement by the Council of the EU said.

These designations complement the import ban of Russian diamonds included as part of the 12th package of economic and individual sanctions adopted on December 18 2023 in view of Russia’s war of aggression against Ukraine.

The ban on Russian diamonds is part of a G7 effort to develop an internationally coordinated diamond ban that aims at depriving Russia of this important revenue source.

Altogether, EU restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine now apply to almost 1950 individuals and entities altogether.

Those designated are subject to an asset freeze and EU citizens and companies are forbidden from making funds available to them.

Natural persons are additionally subject to a travel ban, which prevents them from entering or transiting through EU territories.

The relevant legal acts, including the names of the listed individual and entity, have been published in the Official Journal of the EU, the statement said.

(Photo: Jerry Cone, via Wikimedia Commons)

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