NACP NACP
A-
A
A+
A
A
Звичайна версія сайту

Bloody Diamonds: The NACP lists one of the world's largest diamond producers SRK on the List of International War Sponsors

15.09.2023
Bloody Diamonds: The NACP lists one of the world's largest diamond producers SRK on the List of International War Sponsors
The National Agency on Corruption Prevention (NACP) has listed one of the world's largest diamond manufacturing and exporting companies, Shree Ramkrishna Exports (SRK), on its list of international war sponsors. The Indian company continues to cooperate with the aggressor, purchasing diamonds in Russia, despite the sanctions imposed against the Russian Federation in this sphere. In 2023, the company tripled the purchase of diamonds in the Russian Federation compared to 2021. India is one of the main buyers of diamonds, primarily small diamond raw materials from Russia, and the world's largest diamond production center: 95% of the world's diamonds are produced in this country. About three-quarters of the diamonds come from Russia, but they are not accompanied by any official documents that could confirm their origin. SRK has an annual income of more than $1.3 billion. The company, after purchasing rough diamonds, carries out cutting, polishing, classification and exports them. Despite the international sanctions that were introduced in April 2022 against the largest diamond miner in the world, the Russian "Alrosa", SRK continued to buy diamonds in the Russian Federation, making "secret deals" for the purchase of precious stones worth hundreds of millions of dollars. At the same time, the SRK reports on its website that "rough diamonds come only from countries participating in the Kimberley Process and do not have conflict origins. We check all of our raw materials to ensure ethical considerations are met.” However, the numbers say otherwise. For example, in 2021, Shree Ramkrishna Exports purchased more than $59 million worth of diamonds in Russia. USA, and already in 2022, after the application of Western sanctions against Russia, by more than $198 million. In 2023, the company also actively continues cooperation with the aggressor. In the first half of the year alone, it purchased diamonds worth more than 132 million dollars. USA, which is three times more than in 2021. In total, in 2022, Russia exported diamonds worth 3.8 billion dollars. But even such insignificant amounts compared to the income from the sale of oil are of great importance for the Russian Federation, as they allow them to finance the war against Ukraine and maintain its economy. In December 2021, a member of the board of directors of the company, Arpit Narola, in a conversation with a correspondent of the Russian TASS, noted that the interaction between Russia and India in the diamond industry can be called an excellent example of how two countries far from each other can cooperate in the interests of each other, since the whole world carries Russian diamonds with Indian cut: "We are actively developing relations with Russia. We get high-quality raw (unprocessed) stones from your country." As the company reported, cooperation between the two countries in the diamond sector is developing at a rapid pace. "It can be said that it is developing and growing at the speed of the C-400 missile." This also testifies to the probable ideological support of the militarist policy of the Russian Federation by the Indian company. Thus, while other Western companies bypass the Russian market, Shree Ramkrishna Exports actively buys Russian diamonds on favorable terms, thereby actively sponsoring aggression against Ukraine. We would like to remind you that the NACP is the body responsible for the compliance system in the private sector. During compliance procedures, counterparties are subject to integrity checks, including socially responsible business conduct in accordance with OECD standards. The list of “International War Sponsors” on the “War and Sanctions” portal is a powerful reputational tool for achieving the integrity of supply chains in the international dimension, the exit of international business from Russia, thus reducing the financial and technological ability of the terrorist country to kill Ukrainians. One of the “leverages” of the platform is cooperation with the World-Check database, which is used by banks and insurance companies for risk assessment. That is why for global companies, the consequences of being on the list become worse than continuing to do business with the aggressor country.
Bloody Diamonds: The NACP lists one of the world's largest diamond producers SRK on the List of International War Sponsors

Latest News

24.06.2025
12:09
Civil forfeiture: Based on NACP materials, the High Anti-Corruption Court has confiscated over UAH 8.5 million from a couple of customs officers and their son, a district council official, in favour of the state.
23.06.2025
19:30
UAH 7.8 million will be confiscated from a Kharkiv police officer and transferred to the state budget based on NACP materials: decision of the Appeals Chamber of the High Anti-Corruption Court
15:10
How the NACP protects whistleblowers: Legal guarantees and practice
20.06.2025
17:00
Lifestyle monitoring: The Security Service of Ukraine and the Prosecutor General’s Office of Ukraine have sent to court an indictment against a military commissar from Bucha for illegal enrichment of over UAH 21 million
15:40
Placement of electronic communications structures and logging on particularly valuable land: NACP recommendations prevented corruption abuses
19.06.2025
14:30
Municipal partnerships - a driver for transparent reconstruction and European integration – Deputy Head of the National Agency on Corruption Prevention
18.06.2025
18:15
Declared cash can be verified through an investigation, a notice of suspicion or a court verdict based on NACP materials
14:20
The Ministry of Education and Science of Ukraine has approved methodological recommendations for building integrity in higher education institutions
17.06.2025
15:15
Deputy Head of NACP at Brussels Forum debunked disinformation narratives about corruption in Ukraine
16.06.2025
13:55
The establishment of the lobbying institution: legislative changes will simplify procedures for businesses and delay the application of sanctions
13.06.2025
17:30
Based on NACP recommendations the Ministry of Economy has eliminated corruption risks in the regulation of business grant provision
12.06.2025
18:30
Full audits of declarations in May: NACP found violations worth nearly UAH 518 million
17:45
Sectoral analysis of corruption risks as a basis for future reforms: results of the meeting of the Steering Committee of the Swiss-Ukrainian project ‘Supporting Ukraine in the fight against corruption and asset recovery’
10:30
Half of the respondents rated their interaction with the Register of Declarations as the highest score — research
10.06.2025
16:15
Security and defence authorities, NACP and the NATO Integrity Building Programme agreed on further implementation of Alliance recommendations
14:30
21 apartments, parking spaces and cars: former law enforcement officer - lawyer suspected of corruption based on NACP materials
13:00
Digitalisation, participation and clear laws: Deputy Head of the NACP on anti-corruption safeguards in reconstruction
09.06.2025
14:40
UAH 12 million of illegal assets: former official of the Logistics Command of the Armed Forces of Ukraine suspected of corruption based on NACP materials
14:06
Over UAH 8 million may be confiscated from Chernihiv tax official based on NACP and SBI materials
12:30
New anti-corruption safeguards in land relations, taxation and academic integrity: implementation of state anti-corruption policy in the first quarter
Чат-бот Telegram
contact center
Чат-бот Telegram
Contacts
+38 (044) 200-06-94 info@nazk.gov.ua
працює з 9:00 до 18:00
Технічна підтримка
support@nazk.gov.ua