Home MOREBUSINESS & ECONOMY Pavel Alekseevich Marinychev, head of world’s largest diamond mining company sanctioned by EU

Pavel Alekseevich Marinychev, head of world’s largest diamond mining company sanctioned by EU

by EUToday Correspondents
Sanctions

The European Council has introduced additional restrictive measures against Pavel Alekseevich Marinychev and PJSC Alrosa, being responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.

Pavel Alekseevich Marinychev

Pavel Alekseevich Marinychev

PJSC Alrosa is the largest diamond-mining company in the world, owned by the Russian state and accounts for over 90% of all Russian diamond production, and the company constitutes an important part of an economic sector that is providing substantial revenue to the government of the Russian Federation.

These designations complement the import ban of Russian diamonds included as part of the 12th package of economic and individual sanctions adopted on 18 December 2023 in view of Russia’s war of aggression against Ukraine.

The ban on Russian diamonds is part of a G7 effort to develop an internationally coordinated diamond ban that aims at depriving Russia of this important revenue source.

Altogether, EU restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine now apply to almost 1 950 individuals and entities altogether.

Those designated are subject to an asset freeze and EU citizens and companies are forbidden from making funds available to them.

Natural persons are additionally subject to a travel ban, which prevents them from entering or transiting through EU territories.

The relevant legal acts, including the names of the listed individual and entity, have been published in the Official Journal of the EU.

Read also: Russia sanctions: “While the world is moving forwards technologically, Russia is going backwards”

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