MUMBAI: Ukraine has removed the Indian diamond manufacturer Shree Ramkrishna Exports (SRK) – one of the largest in the world – from the list of international war sponsors.
The Mumbai-based company was accused last month of “continuing to collaborate with the aggressor and buy diamonds in Russia” despite Western sanctions.
SRK responded by pointing out that it has not purchased rough diamonds from Russia since January and would not do so in the future.
The Ukrainian National Agency for Corruption Prevention (NACP) said SRK has issued an official statement saying it will comply with its international obligations and not cooperate with Russian-sanctioned entities.
The NACP said it “welcomes SRK’s decision and will monitor the fulfillment of the commitments made by the company.”
In September it claimed that SRK, which has an annual income of more than $1.3 billion, had bought $132 million worth of Russian diamonds in the first half of this year.
In a statement last Thursday, SRK said: “SRK does not do business with sanctioned entities, including Russian entities that sell rough diamonds or other entities involved in any form of conflict.
“Since January 2023, SRK has not purchased rough diamonds from the Russian Federation.”
The Mumbai-based company was accused last month of “continuing to collaborate with the aggressor and buy diamonds in Russia” despite Western sanctions.
SRK responded by pointing out that it has not purchased rough diamonds from Russia since January and would not do so in the future.
The Ukrainian National Agency for Corruption Prevention (NACP) said SRK has issued an official statement saying it will comply with its international obligations and not cooperate with Russian-sanctioned entities.
The NACP said it “welcomes SRK’s decision and will monitor the fulfillment of the commitments made by the company.”
In September it claimed that SRK, which has an annual income of more than $1.3 billion, had bought $132 million worth of Russian diamonds in the first half of this year.
In a statement last Thursday, SRK said: “SRK does not do business with sanctioned entities, including Russian entities that sell rough diamonds or other entities involved in any form of conflict.
“Since January 2023, SRK has not purchased rough diamonds from the Russian Federation.”
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