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last quarter of 2022 amounted to 1.1 million rubles. However, its CEO Pavel Deverilin told the publication that "dozens of Russian clients with SAP systems" cooperate with it.
9.2.11 Mines and Minerals - gold & diamonds
Russian diamond producer ALROSA has started constructing 126bn ruble facilities of the Mir-Gluboky mine, the government of the republic of Yakutia said in a statement on September 4. “ALROSA has started implementation of an investment project to construct facilities of the Mir-Gluboky mine,” the statement read. Production is to begin in 2031–2032.
The EU continues to discuss sanctions against Russian diamonds, but the date of their introduction is unclear, head of the European Council Charles Michel said on Friday on the sidelines of a G20 summit. EU officials said earlier that in order to introduce sanctions against the Russian diamond industry, the EU must get support from international partners, especially from India as the key player on the global market. Brussels also emphasized the importance of tracking the origin of diamonds on the international markets.
Belgium has dropped its opposition to putting sanctions on Russian diamonds, but says that it will impose sanctions on its own terms, sparking the ire of the diamond industry, the Financial Times reported on September 21.
As a major diamond producer, Russia earns billions of dollars a year exporting gems, many of which are sold in the diamond market of Antwerp. A major earner for Belgium, the diamond lobby has successfully lobbied the government to block the inclusion of diamonds in the extreme sanctions regime on Russia.
Now a twelfth package of sanctions is in the works that could include diamonds for the first time, but the proposal is still facing stiff opposition, especially from the world's largest producer, De Beers.
Moreover, the new sanctions come as the G7 nations are poised to introduce a new global traceability system for diamonds, potentially leading to an effective ban on Russian gems from the beginning of next year.
Antwerp accounts for about 90% of the world's diamonds sales and has been citing concerns about losing business to Dubai, which has moved much closer to Moscow in the last year and a half. Last year, Russia earned around $4bn from rough diamond exports.
The Belgian government recently briefed journalists on the G7 scheme, sparking controversy as 16 leading international diamond manufacturers and traders accused Antwerp's diamond lobby of lacking "transparency,
133 RUSSIA Country Report October 2023 www.intellinews.com