ALBAWABA - The European Union announced on Wednesday imposing sanctions on Russia's state-run diamond giant Alrosa.
AFP reported that Alrosa's CEO is also affected by the sanctions imposed by the EU which came in protest over the Ukraine war which started in February 2022.
According to media sources, Alrosa, which is one of the world's largest diamond mining companies, and its chief executive Pavel Marinychev were hit by a visa ban and asset freeze.
The EU: Alrosa "constitutes an important part of an economic sector that is providing substantial revenue to the government."
It is also worth highlighting that the diamond company accounts for 90 percent of Russia's diamond production. It is now subjected to sanctions by the 27-nation bloc.
