For undermining Ukraine's independence: the EU imposes sanctions against Russia's diamond mining giant

The European Union has imposed sanctions on Russia's largest diamond mining company, Alrosa. This was a serious blow to the Russian Federation, as Alrosa is an important part of the economic sector that provides the country with significant revenues. In addition to the company itself, its CEO, Pavel Marynychev, was also subject to restrictions.

This was reported by the EU Council. They noted that the reason for imposing sanctions against Alrosa and Marynychev was that they are responsible for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine.

"Alrosa is the largest diamond mining company in the world, owned by the Russian state and accounting for more than 90% of all Russian diamond production. The company is an important part of the economic sector that generates substantial revenues for the government of the Russian Federation," the statement said.

At the same time, the EU Council emphasized that this decision complements the ban on the import of Russian diamonds included in the 12th package of sanctions. And the ban on Russian diamonds is part of the G7's efforts to "deprive Russia of an important source of revenue."

The EU has adopted a tough package of sanctions

According to the 12th package of sanctions against Russia adopted by the EU, a ban on the import of non-commercial diamonds mined, processed or produced in Russia came into force on January 1, 2024. And from March 1 to September 1, gradual restrictions on the import of Russian diamonds processed in third countries will be introduced.

In addition, the import of certain metal products from the aggressor country is prohibited. For example, imports of aluminum products, including wire, foil, and pipes, from Russia will be banned. A new ban on the import of liquefied propane is also being introduced with a 12-month transition period, and restrictions on the import of liquefied petroleum gas, cast iron and ferrous metals are being expanded.

However, the restrictions on aluminum cannot yet be considered complete, as the supply of raw aluminum is not prohibited. However, this decision is a decisive first step, given that RUSAL's share in global aluminum production is about 6%, and if China is excluded, it is 14%.

As OBOZ.UA reported earlier, the United States and Canada expanded sanctions against Russia. Businessmen and about 200 companies were added to the blacklist. Among others, investor Ivan Tavrin and businessman Vladislav Sviblov were subjected to American restrictions.

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