Putin celebrates De Beers' interest in collaborating with Alrosa

Russian President Vladimir Putin welcomed De Beers' interest in collaborating with Alrosa, despite their competition in the diamond market. He noted that Western sanctions hinder De Beers' efforts to engage with Russia, but expressed support for their cooperation. The EU's ban on Russian diamonds, effective January 2024, has impacted the global diamond market, leading Alrosa to reduce its production. The company previously partnered with Angola's Endiama but exited due to international sanctions related to the Ukraine conflict.