Ukraine's Corruption Prevention Agency removes Indian diamond manufacturer from war sponsors list

The National Agency on Corruption Prevention of Ukraine (NACP) has removed the Indian Shree Ramkrishna Exports company (SRK), one of the largest producers and exporters of diamonds in the world, from the list of international sponsors of the war.

Source: press service of NACP

The agency explained that the company made an official statement in which it committed to following international obligations and not cooperating with Russian sanctioned subjects.

SRK also acted in support of current and future initiatives of the G7 countries concerning the restrictions on Russian diamonds, and committed to refrain from procurement of Russian diamonds.

"India is one of the main buyers of diamonds, primarily rough diamonds from Russia, and the world’s largest diamond production center. This decision by the company should weaken Russia’s ability to wage war against Ukraine and its influence in the world," NACP stated.

Background: In September, NACP added Shree Ramkrishna Exports (SRK), one the largest companies for diamond production and export, to the list of international sponsors of the war.

Then, NACP stated that the Indian company continues cooperating with Russia by procuring diamonds there despite the sanctions implemented in this sector. In 2023, the company had increased its diamond procurement in Russia three times compared to 2021.

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