The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has expanded sanctions on Russian company Alrosa, a state-owned enterprise that is the world’s largest producer of rough diamonds.
“All transactions ordinarily incident and necessary to the wind down of transactions involving Public Joint Stock Company Alrosa or any entity in which Alrosa owns, directly or indirectly, a 50 percent or greater interest that are prohibited by Executive Order 14024 are authorized through 12:01 a.m. eastern daylight time, May 7, 2022,” according to a license issued by OFAC on April 7.
