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Ukraine and Moldova join sanctions against Russian diamond company

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Nine countries, including Ukraine and Moldova, have joined the decision of the Council of the European Union to impose sanctions on the giant Russian diamond mining company Alrosa and its CEO Pavel Marinychev.

Source: Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, as reported by European Pravda

Details: Borrell said that the EU candidate countries – North Macedonia, Montenegro, Albania, Ukraine, Moldova and Bosnia and Herzegovina, as well as the European Free Trade Association countries Iceland, Liechtenstein and Norway – decided to join the sanctions against Alrosa.

“They will ensure that their national policies are in line with this Council decision. The European Union takes note of this commitment and welcomes it,” Borrell added.

Background: On 3 January, the EU Council added Russian diamond mining giant Alrosa and its CEO Pavel Marinychev to the sanctions list. The company is an important part of Russia’s economic sector that generates significant revenues for the Russian government.

This decision is in addition to the ban on imports of Russian diamonds included in the 12th package of EU economic and individual sanctions adopted on 18 December 2023 in connection with Russia’s war of aggression against Ukraine.

The ban on Russian diamonds is part of the G7’s efforts to deprive Russia of an important source of revenue in the form of diamond trade.

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