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Diamondtrade

All articles tagged with #diamondtrade

international-relations-economics2 years ago•1 min saved

"EU Imposes Sanctions on Alrosa, Russia's Diamond Giant"

The European Union has sanctioned Alrosa, the world's largest diamond producer, and its CEO Pavel Marinychev, in response to Russia's ongoing war in Ukraine. The sanctions include a ban on Russian diamond imports, a visa ban, and an asset freeze within the EU. This move aims to cut off significant revenue for the Russian government, as Alrosa accounts for 90% of Russia's diamond production. The EU's ban on natural and synthetic diamonds from Russia took effect on January 1, with further restrictions to be implemented by September. Despite 12 rounds of sanctions, the Russian economy has shown resilience in adapting to the new economic landscape.

via Kyiv Post|

##alrosa #diamondtrade

international-relations-trade2 years ago•0 min saved

"Global Impact of G7's Russian Diamond Ban on Trade and Legalities"

The European Union has initiated a full ban on direct imports of natural and synthetic diamonds and diamond jewelry from Russia starting January 1, with an embargo on Russian diamonds processed in third countries to follow later in the year. This move is part of the EU's 12th package of sanctions against Russia, which also includes a tighter price cap on Russian oil and an expanded list of goods subject to sanctions, such as lithium batteries and certain chemicals. The sanctions are expected to impact Russia's earnings from the diamond trade, which are estimated to be between 3.7 and 4.6 million euros annually.

via Ukrinform|

##diamondtrade #euimportsban