The media found out how Russia bypasses the “diamond” sanctions

The media found out how Russia bypasses the “diamond” sanctions

russia* sells its diamonds abroad despite western sanctions imposed because of the war in ukraine.

Media reveals how Russia gets around diamond sanctions

< p> It became known that the authorities of the Russian Federation are circumventing Western sanctions regarding the sale of diamonds. Every month Russia makes hundreds of millions of dollars selling precious stones.

This is reported by Bloomberg.

Reporters have found out that Russia is selling diamonds using Indian banks.

“The panic that gripped the world of diamonds this year is beginning to subside. Russian mining giant Alrosa has privately resumed its exports to near pre-war levels,” experts say.

Alrosa is known to be 33% owned by the Russian federal government. At the same time, only 25% of the shares belong to local authorities.

The report says that the Russian company sells mined diamonds to buyers in India and Europe, mainly in exchange for rupees. All transactions are conducted secretly to minimize reputational risks.

Alrosa is reported to » sells more than $250 million worth of polished diamonds every month. This is only 20-30% less than the pre-war volume of sales of precious stones. Also, Russia still controls 1/3 of the entire rough diamond market.

“Guided by the geopolitical situation”: Russian savings bank left Kazakhstan. The Russian Savings Bank decided to withdraw from the Kazakhstani market, guided by the current geopolitical situation and acting in the interests of the subsidiary bank's clients.