The world’s largest diamond producer Alrosa and its CEO Pavel Alekseevich Marinychev have been added to the European Union’s sanction checklist.
In a submit on social media platform X, Josep Borrell, overseas coverage chief, mentioned: “In keeping with the diamond ban we’ve launched with the twelfth package deal of sanctions, the EU at the moment lists Alrosa, the biggest diamond-mining firm on the earth and its CEO.
“That is a part of our coordinated efforts at G7 degree to deprive Russia of this vital income supply.”
The information comes after the G7 international locations introduced a direct ban on Russian diamonds beginning 1 January 2024.
The ban applies to importing, buying or transferring diamonds from Russia, together with laboratory-grown diamonds and diamond jewelry.
Lately, Nationwide Affiliation of Jewellers (NAJ) additionally welcomed the G7’s ban on Russian imported diamonds. Nonetheless, the group has issues about how will probably be enforced.
Ben Massey, NAJ chief govt, mentioned: “Since Could 2023, the NAJ has been engaged in commerce talks with authorities officers and has held working teams with commerce representatives and authorities officers for example attainable impacts and spotlight the necessity for a constructive narrative to guarantee confidence out there.”