NAPC added Indian diamond producer Shree Ramkrishna Exports to the list of war sponsors.
The National Prevention of Corruption Agency has added one of the world’s largest diamond manufacturing and exporting companies, Shree Ramkrishna Exports (SRK), to its list of international war sponsors. The NAPC press service reported this on September 15.
It was noted that the Indian company continues to buy diamonds from Russia, despite the sanctions imposed against the Russian Federation in this area. In 2023, the company tripled its purchases from Russia compared to 2021.
function news4620712() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4620712&lang=2&IsAjax=true’, function (data) { $(‘#nk4620712’).html(data); });
}
news4620712();
India is the largest center of diamond production in the world (it produces 95% of the world’s diamonds – ed.) and, accordingly, one of the main consumers of diamonds, mainly small rough diamonds from Russia. About three-quarters of the diamonds came from Russia, but they were not accompanied by any official document that could confirm their origin.
SRK, with annual revenues of over $1.3 billion, cuts, polishes, grades and exports rough diamonds after they are purchased.
Despite international sanctions imposed in April 2022 against the world’s largest diamond miner, Russia’s Alrosa, SRK continued to buy diamonds from the Russian Federation, entering into “secret agreements” to buy hundreds of millions of dollars worth of gems.
On its website, SRK says that “rough diamonds only come from countries involved in the Kimberley Process and are of no conflict of origin” and that rough diamonds are analyzed for ethical reasons.
In 2021, Shree Ramkrishna Exports bought diamonds from Russia for more than $59 million, and in 2022 – for more than $198 million. This year, the company actively continues cooperation with Russia – in the first half of the year alone, it bought diamonds worth more than $132 million.
Overall, Russia exported $3.8 billion worth of diamonds last year, some of which went to finance the war against Ukraine.
“While other Western companies are bypassing the Russian market, Shree Ramkrishna Exports is actively buying Russian diamonds on favorable terms, thereby actively sponsoring aggression against Ukraine,” the NAPC emphasized .
Let’s remember that the previous NAPC included two leading food corporations – PepsiCo and Mars – in the list of international sponsors of the war.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.