The Government of Ukraine has removed Shree Ramkrishna Exports (SRK), one of the largest diamond manufacturers, from the list of international sponsors of war.
Last month, the Mumbai-based company was accused of “continuing to cooperate with the aggressor, purchasing diamonds in Russia,” despite the economic sanctions. The government claimed SRK, which has an annual income of over $1.3 billion, bought $132 million of Russian diamonds in the first half of this year.
In response, the company said it neither bought rough diamonds from Russia since January nor it would do so in future. Ukraine’s National Agency on Corruption Prevention (NACP) said SRK had issued an official statement stating that it would comply with its international obligations and will not cooperate with Russian-sanctioned entities.
The NACP said it “welcomes SRK’s decision and will monitor the fulfillment of the commitments undertaken by the company”.