EU sanctions Russian diamond mining giant Alros and its CEO Marinychev

The EU Council has added Russian diamond mining company Alros and its CEO Pavel Marinychev to its sanctions list.

The official website of the agency reports. 

Alrosa is the world's largest Russian-owned diamond mining company, accounting for more than 90% of all Russian diamond production.

"The company constitutes an important part of an economic sector that is providing substantial revenue to the government of the Russian Federation. The ban on Russian diamonds is part of a G7 effort ... that aims at depriving Russia of this important revenue source," the EU Council said in a statement.

It will be recalled that on December 18, 2023, the EU adopted the twentieth package of sanctions against Russia over its war against Ukraine. 

The package includes a ban on direct or indirect imports of diamonds from Russia, a ban on re-exporting sensitive goods and technologies that can be used in Russian military systems, and restrictions on oil prices.