Russia is being squeezed out of the diamond market: how will this affect the Kremlin’s economy?
Фото: СЗРУ
The Foreign Intelligence Service of Ukraine (FISS) reports that Russian companies are rapidly losing their assets abroad due to international sanctions, nationalizations, and the collapse of cooperation with foreign partners.
This was reported by the press service of the SZRU.
According to intelligence reports, the victims include energy and financial giants such as Gazprom, Sberbank, Rosneft, Lukoil, VTB, as well as state corporations Rostec and Rosatom. The losses involve losing controlling stakes in projects, licenses, and withdrawal from lucrative contracts.
The most notable case concerns the Alrosa company, which has completely lost access to the Angolan diamond deposit “Catoca” — one of the key sources of precious stone production for Russia.
The Foreign Intelligence Service of Ukraine (SZRU) emphasizes that this marks the actual beginning of Russia’s removal from the global diamond market.
Alrosa’s financial indicators point to a deep crisis.
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- revenue fell by 42% in the first quarter of 2025,
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- accumulated unsold diamonds worth $1.3 billion,
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- the Indian market has been lost,
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- the company has stopped paying dividends, is reducing staff and halting projects,
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- net debt by the end of 2024 reached $1.14 billion — the worst result in the last 10 years.
According to analysts, Russia may lose its status as one of the key players in the gemstone market, which will hit the Russian budget, which is already experiencing a crisis due to restrictions on foreign exchange earnings.
It was previously reported that the Ukrainian economy could overtake the Russian one thanks to effective governance, US assistance, and global investment.
By the way, from July 1, 2025, the European Union officially introduces new tariffs on agricultural products and fertilizers from Russia and Belarus. The decision was made by the EU Council, increasing economic pressure on the aggressor countries to limit their ability to finance the war against Ukraine.
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