EU Imposes Sanctions on Russian Diamond Mining Giant

As of January 3rd, the European Union has expanded sanctions against the Russian industrial sector by adding the Russian diamond mining giant "Alrosa" and its CEO Pavel Marinichev to the sanctions list. The relevant announcement is posted on the official website of the EU Council.

According to the document published on Wednesday, "Alrosa" is identified as the world's largest diamond producer, owned by the Russian state, responsible for over 90% of the total diamond production in Russia. The EU Council explained that considering these figures, "Alrosa" is a key player in the economic sector, contributing substantial revenues to the Russian Federation government.

It's worth noting that Pavel Marinichev was included in the U.S. sanctions list in July 2023, and "Alrosa" had already come under U.S. sanctions in the spring of 2022.

The decision regarding "Alrosa" complements the ban on the import of Russian diamonds, already included in the 12th package of economic and individual sanctions imposed by the EU on December 18, 2023, in response to Russia's invasion of Ukraine.

From March 1st to September 1st, 2024, this ban will gradually extend to the indirect import of Russian diamonds processed in third countries. The measures will be phased in to establish an effective tracking mechanism for the sanctions and minimize issues in the European market.

This ban on Russian diamonds is part of the joint efforts of the G7 countries aimed at depriving Russia of a crucial source of income from diamond trade.

Overall, EU restrictive measures targeting actions undermining the territorial integrity, sovereignty, and independence of Ukraine currently apply to nearly 1,950 individuals and entities.

It is worth recalling that on the night of January 2nd, Russia carried out another massive missile strike on Ukraine. According to the Kyiv City Military Administration, the aerial strike lasted for almost 6 hours, with over a dozen Tu-95MS strategic bombers launching waves of X-101/X-555/X-55 cruise missiles. Simultaneously, as the missiles approached Kyiv, over ten MiG-31K aircraft fired "air-to-air" class missiles, X-47M2 "Kinzhal," towards the capital.