Skip to content
Edit post

RFE/RL: Indian businesses come under sanctions for the first time due to war in Ukraine

by Rachel Amran August 31, 2023 1:15 AM 1 min read
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

The Indian government has asked the United States to release $26 million belonging to Indian diamond companies after these assets were frozen due to alleged trading ties with a sanctioned Russian diamond company, ALROSA, Radio Free Europe/Radio Liberty reported on Aug. 30. Until recently, Indian businesses had not been directly impacted by Western sanctions against Russian companies.

According to a previous Reuters investigation, unnamed Indian diamond companies in the UAE tried to pay for the purchase of rough diamonds. Reuters could not determine whether the money paid by these companies was transferred to accounts belonging to the Russian ALROSA or other recipients.  

ALROSA is the largest producer of rough diamonds in the world and India has the world's largest diamond processing and exporting facilities. They buy rough diamonds in a number of countries, including the UAE and Russia.

Earlier this month, Reuters reported that India is in talks with Moscow to import Russian wheat at discount prices in an attempt to push down food inflation ahead of the upcoming elections next year.

Ukraine war latest: Largest drone attack reported in Russia; Russian attack on Kyiv kills 2
Key developments on Aug. 30: * Russian media reports drone attacks in 6 Russian regions, occupied Crimea * Local authorities: 2 killed, 3 wounded in Russia’s largest attack on Kyiv in months * General Staff: Ukraine advances further south of liberated Robotyne in Zaporizhzhia Oblast * Poland to…

News Feed

6:52 PM

Ukraine's GDP grew by more than 4% in 6 months.

"Due to the high adaptability to difficult conditions and experience in responding to such challenges, the Ukrainian economy continued to grow" in June, said Economy Minister Yulia Svyrydenko.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
8:25 AM

Zelensky to address US governors in Utah.

The surprise visit to Utah comes after Zelensky's stay in Washington, D.C., for the annual NATO summit. The allies gathered in the U.S. capital to outline further support for Kyiv in the face of Russian aggression.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.