Ukraine proposes sanctions on 47 Russian diamond companies

The NAPC press service reported the information. 

It noted that the agency has now sent proposals for sanctions against Russian diamond companies to the Security Service of Ukraine (SBU) and other responsible authorities, most of which are associated with the Russian group of Alrosa diamond mining companies.

"It holds a dominant position globally in terms of diamond production volume. Its primary operations are concentrated in Yakutia, as well as in the Arkhangelsk region (Russia - ed.) and Africa. Alrosa controls over 90% of diamond production in Russia, and the corporation's estimated reserves are about one third of the world's total. The company is already under sanctions imposed by Ukraine and many countries of the sanctions coalition, but its affiliated companies continue to operate in the global diamond market," the statement said. 

The NACP said that Alrosa also supports the Russian army and uses Russian diamonds to circumvent sanctions. 

Currently, some countries have imposed restrictions on the import of rough Russian diamonds. However, once these diamonds undergo processing in third-party countries, they acquire a "mixed" status, allowing them to be freely distributed in the markets of G7 countries.

The NACP emphasized that it is necessary not only to ban the import of Russian diamonds as soon as possible, but also to introduce a system of identification and tracking of their origin. 

"India, the UAE, and Belgium are the three largest hubs where Russian diamonds can be transformed into "mixed" diamonds. The US, China, and the EU are their largest consumers. Blood diamonds have no place on the global market. Ethical consumption has never been more relevant for the diamond industry," the NACP added. 

• Earlier, the NACP added one of the largest diamond producers and exporters to the list of war sponsors. The Indian company Shree Ramkrishna Exports has not stopped cooperation with Russia.