EUobserver: EU excludes ALROSA from the eighth package of sanctions

The European Union (EU) has excluded the diamond mining company ALROSA from eighth package sanctions against Russia EUobserver with reference to sources. Belgium, on whose territory the world’s largest diamond exchange is located, spoke out for the withdrawal of the Russian company from sanctions.

Belgian diplomats and lobbyists for the Antwerp Diamond Center have warned that sanctions against Russia’s diamond sector will lead to the loss of “thousands of jobs” in the city. The Belgian Foreign Ministry refused to comment on the information about the sanctions against ALROSA. Against the backdrop of news, the company’s shares on Mosbirzhe increased by 5.04%, to 68.1 rubles.

EUobserver clarifies that 29 individuals and seven legal entities will be included in the sanctions list. Their assets in Europe will be frozen. EU countries agreed the eighth package of anti-Russian sanctions earlier today, 5 October. The new sanctions include the introduction of a ceiling on the price of Russian oil, as well as a ban on the provision of engineering, legal and IT services to Russian organizations.

ALROSA since February located under blocking US sanctions. In April, US authorities blocked the corporation’s assets. Due to sanctions Russia reduced export of diamonds to key markets – to India and Europe. Bloomberg informedthat traders began to look for workarounds to work with the Russian company.

About the situation on the market – in the material “Kommersant” “Clean water investment”.

Laura Keffer