Ukraine Removes SRK from List of Companies Alleged to Support Russian War

Ukraine Removes SRK from List of Companies Alleged to Support Russian War

In a recent development, Ukraine has officially removed Shree Ramkrishna Exports (SRK), a prominent Indian diamond manufacturer and one of the world's largest, from its list of international entities suspected of supporting the Russian war effort

This decision comes after SRK faced accusations last month of "continuing to cooperate with the aggressor, purchasing diamonds in Russia," which was in apparent violation of Western sanctions against the country.

In response to these allegations, SRK vehemently asserted that it had not engaged in diamond purchases from Russia since January and had no intention of doing so in the future.

Ukraine's National Agency on Corruption Prevention (NACP) confirmed that SRK had issued an official statement, affirming its commitment to abide by international obligations and refraining from collaborating with Russian-sanctioned entities.

NACP expressed its approval of SRK's resolution and pledged to closely monitor the company's adherence to these commitments.

Earlier in September, NACP had claimed that SRK, which boasts an annual income exceeding $1.3 billion, had acquired $132 million worth of Russian diamonds in the first half of the year.

In a statement released on October 12, SRK clarified, "SRK does not engage with any sanctioned entities, including Russian entities involved in selling rough diamonds or any other entities participating in conflicts. Since January 2023, SRK has abstained from procuring rough diamonds from the Russian Federation."

This development marks a significant turning point in SRK's relationship with Ukraine, as the company strives to maintain its reputation and uphold international standards in its operations.

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