EU sanctions target Russia’s Alrosa, world’s largest diamond mining company

EU sanctions target Russia’s Alrosa, world’s largest diamond mining company

The European Council released a statement on additional restrictive measures against one Russian person and one Russian entity institutions in connection with the ongoing aggression against Ukraine as part of a blow to Russia’s diamond business.

That’s according to the Council’s press service, Ukrinform reports.

"The Council today introduced additional restrictive measures against one person and one entity responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. The new listings target the company PJSC Alrosa and its  CEO Pavel Alekseevich Marinychev," the statement says.

Read also: Imports of diamonds from Russia to EU banned from today

As noted, JSC Alrosa is the world’s largest diamond mining company, owned by the Russian government and covering over 90 percent of all diamond output in Russia. The company is an important element of the entire Russian economic sector, which provides significant revenues for the Russian government.

Thus, the EU's restrictive measures against Russia related to the actions undermining or threatening Ukraine’s territorial integrity, sovereignty, and independence currently cover more than 1,950 individuals and entities. Entities put on the sanctions list are subject to account freeze, while EU citizens and companies are prohibited from providing them with any financial resources. Individuals are also banned from entering or transiting through EU territory.

The relevant list of designated individuals and entities was published the Official Journal of the EU.

As reported, the European Council summit, held in Brussels on December 14-15, in its final conclusions once again condemned Russia’s war of aggression against Ukraine, which is a flagrant violation of the UN Charter. European leaders reaffirmed their unwavering support for Ukraine's independence, sovereignty, and territorial integrity within its internationally recognized borders and Ukraine's inalienable right to self-defense against Russian aggression.

The participants in the EU summit confirmed their firm intention to continue supporting Ukraine and its people for as long as it takes and welcomed the adoption of the 12th package of sanctions against Russia as an aggressor state.

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