EU Sanctions Russian Gold Mining and Diamond Export Companies
Quick Look
The European Union has added several Russian gold mining companies, including Nordgold Management and Yuzhuralzoloto, along with diamond exporter First Diamond Company, to its sanctions blacklist as part of a new package.
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Why It Matters
The EU council published a statement detailing new sanctions against Russian entities. This action is part of an ongoing sanctions package.
BRUSSELS, July 24. /TASS/. The European Union has put a number of Russian gold mining companies on its sanctions blacklist, the EU council said in a statement published in the Official Journal of the European Union.
As part of its sanctions package, the EU blacklisted gold miners Nordgold Management, Vysochaishy, Areal International JSC (formerly Highland Gold), Yuzhuralzoloto, Pavlik, Susumanzoloto and Seligdar.
The blacklist also includes First Diamond Company, a diamond exporting company created in May 2022 by former Alrosa employees.
Open Questions
- What is the full scope of the EU sanctions package?
- What will be the immediate impact on the sanctioned companies?
- How will global gold and diamond markets react?
