Recently the European Union has banned the world's largest diamond mining company 'Alrosa'.

Daily Current Affairs / Recently the European Union has banned the world's largest diamond mining company 'Alrosa'.

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Category : Business and economics Published on: January 06 2024

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'Alrosa' is the world's largest diamond mining company.
Recently the European Union has banned this company.
The European Union has imposed this ban showing its commitment towards Ukraine in the Russia-Ukraine war.
Alrosa produces about 90% of Russia's diamond production.
After this ban, Alrosa's assets in Europe will be confiscated.
EU citizens and companies will be barred from providing funding to Alrosa.
This step has been taken for Russia to withdraw its forces from Ukraine.