EU sanctions world's largest diamond mining company, its CEO over Russia's war on Ukraine

LONDON

The EU on Wednesday blacklisted Alrosa, the largest diamond mining company in the world, and its CEO, Alekseevich Marinychev, over Russia's war on Ukraine, now over 22 months old.

"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 European Council said in a statement.

The new listings target the company PJSC Alrosa and its CEO Pavel Alekseevich Marinychev, said the statement, adding that the company, owned by the Russian state, accounts for over 90% of all Russian diamond production.

The move complements the import ban of Russian diamonds included in the EU’s 12th package of economic and individual sanctions passed last month “in view of Russia's war of aggression against Ukraine," it said.

The council added: "The ban on Russian diamonds is part of a G7 effort to develop an internationally coordinated diamond ban that aims at depriving Russia of this important revenue source."

It stressed that the European Council confirmed the EU’s "unwavering commitment" to continue to support Ukraine and its people for as long as it takes, and welcomed the adoption of the 12th package of sanctions.