Indian banks help Russia bypass sanctions - Bloomberg

Journalists found that the Russian Federation continues to control a third of the market for untreated diamonds. Values ​​with Russian stones are sold not only in India but also in Europe. The Russian Federation uses India banks to sell diamonds and thus circumvent sanctions. Yes, the Russian mining giant "Alros" invisibly restored exports to almost pre -war level, which Bloomberg writes. It is reported that Alros is already selling diamonds worth $ 250 million a month.

This is about $ 50-100 million below the pre-war level. The sale has resumed because some Indian banks have become more convenient to conduct transactions in currencies other than US dollars. The material says that Alrosa sells diamonds to buyers in India and Europe, mainly in Rupees. The transactions are quietly concluded by the standards of a fairly closed market for gems. In doing so, Alros and stopped publishing any information about its sales or financial indicators.

The publication stated that the company representative refused to comment on this. Journalists wrote that about a third of the world supplies of diamond raw materials account for the share of "Alros". India is the largest of several sectoral centers, where hundreds of mainly family enterprises process and polish untreated stones into finished products. This is an "Alros" is a group of companies that, as a result of 2017, has held a leading position in the world in terms of diamond production.

The headquarters are in Yakutia and Moscow. Since April 2022 he has been under US and Australia sanctions. Earlier, Focus wrote that experts told why sanctions have not yet achieved the economy of Russia. Journalists write that world energy prices have made it possible to reduce poverty and inequality, despite the Sanctions introduced by the West and the increasing inflation. We will also remind that Kuleba urged the world to impose more tougher sanctions against the Russian Federation.