Ukraine Removes SRK from List of Russian War Sponsors
October 17, 23
(IDEX Online) - Ukraine has removed the Indian diamond manufacturer Shree Ramkrishna Exports (SRK) - one the largest in the world - from its list of international sponsors of war.
The Mumbai-based company was accused last month of "continuing to cooperate with the aggressor, purchasing diamonds in Russia," despite Western sanctions.
SRK responded by insisting it had not bought rough diamonds from Russia since January, nor would not it do so in future.
Ukraine's National Agency on Corruption Prevention (NACP) said SRK had issued an official statement stating that it will 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".
In September it claimed SRK, which has an annual income of over $1.3bn, bought $132m of Russian diamonds in the first half of this year.
In a statement issued last Thursday (12 October) SRK said: "SRK does not deal with any sanctioned entities including Russian entities selling rough diamonds or any other entities involved in any form of conflicts.
"Since January 2023, SRK has refrained from buying any Rough diamonds from the Russian Federation."