The EU imposed sanctions against ALROSA and its CEO Marinychev – Kommersant
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The European Union has imposed sanctions against PJSC ALROSA and its CEO Pavel Marinychev, it follows from press release Council of the EU. The release states that the imposed sanctions complement the ban on the import of Russian diamonds from the 12th package of EU sanctions.
Against the backdrop of reports about the inclusion of ALROSA shares in the sanctions list Moscow Exchange moved to decline. By 12:11 Moscow time, shares decreased by 0.06%, to 69.46 rubles. (before this, an increase of 0.73% was recorded, to 70.01 rubles).
ALROSA is the world’s largest diamond producer. The company mines rough diamonds in Yakutia and the Arkhangelsk region. The main shareholders are the Russian Federation (33.03%), Yakutia (25%), and administrations of the regions where mining is carried out (8%). 34% of shares are in free float.
On December 18, the European Union approved the 12th package of sanctions against Russia, which includes a ban on the import of non-industrial diamonds mined, processed or produced in the country from January 1. Starting March 1, gradual restrictions on the import of Russian diamonds processed in third countries will also begin.
Read more about sanctions in the Kommersant article. “The EU is reprogramming Russian industry”.
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