The National Agency for the Prevention of Corruption (NAPC) is suggesting adding 47 Russian diamond companies to the list of candidates for international and Ukrainian sanctions.

This was reported by the NAPC press service.

It is known that the agency has submitted proposals for sanctions against Russian diamond companies to the Security Service of Ukraine (SSU) and other responsible authorities, most of which are affiliated with the Russian diamond mining group, ALROSA. ALROSA holds a leading position globally in terms of the volume of diamond production. Its main operations are concentrated in Yakutia, as well as in the Arkhangelsk region and Africa. ALROSA controls over 90% of diamond production in Russia, and the corporation’s estimated reserves make up approximately one-third of the world’s total.

It is noted that the company is already under sanctions from Ukraine and many countries in the sanctions coalition.

However, affiliated firms continue to operate in the global diamond market. They emphasized that in 2022, Russia exported diamonds worth more than $3.8 billion.

The NAPC highlighted that these funds enable Russia to continue financing the war against Ukraine and sustain its economy.

In addition, ALROSA provides support to the armed forces of the aggressor, and Russian diamonds are used, among other things, to bypass sanctions.

It is worth noting that on September 20, the import of Russian diamonds was suspended in India. This decision was made amid concerns about a decrease in demand for diamonds in international markets.

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