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U.S. Sanctions Russian Miner Producing 30% of World’s Diamonds

  • U.S. Treasury adds Alrosa to sanctions list following invasion
  • State-controlled miner was previously sanctioned by EU, U.K.
Alrosa produces about 30% of the world’s supply of rough stones.

Alrosa produces about 30% of the world’s supply of rough stones.

Source: Bloomberg

The U.S. Treasury has extended sanctions to Russian diamond miner Alrosa PJSC, potentially cutting off about 30% of the world’s supply of rough stones.

Clients of Alrosa as well as other counterparties must stop all dealings with the state-controlled Russian miner by May 7, according to a license from the U.S. Office of Foreign Assets Control. The company’s shares fell as much as 6.2% in Moscow trading. Alrosa declined to comment.