The European Union refused to impose sanctions against the Yakut diamond company

The European Union did not impose sanctions against the Alrosa diamond company, located in Yakutia. Euoobserver reports to enter the company to the sanctions list.

The proposal of the European Commission was based on the fact that "ALROSA" financed the construction of a new Russian military submarine and "annually invested billions of euros into the military treasury of the Kremlin."

Belgium opposed the sanctions against the company. The country's authorities said that "a blow to the Russian diamond sector will cost thousands of jobs" in Antwerp, where the world's largest diamond exchanger is located.

"The EU gives Russia carte blanche to continue the sale of diamonds in Antwerp and the rest of Europe, despite a serious escalation in Ukraine," the publication said.

ALROSA is a group of diamond -mining companies with headquarters in the city of Mirny in Yakutia. The company's enterprises produce 95% of diamonds in Russia and 27% of all diamonds in the world. The main production takes place in Yakutia, as well as in the Arkhangelsk region and African countries.

In April, the United States was introduced blocking sanctions against Alros. Due to sanctions, Russia reduced the export of diamonds to key markets to India and Europe.

The countries of the Baltic, Ireland and Poland advocated sanctions against the company. After the decision of the European Union, prices for the company's shares rose by 5%.