# Russia diamond producer Alrosa’s annual net profit drops 15.2%
Author:  Pal Sinha,Barnali
Author URL: https://fintechherald.com/author/pal-sinha-barnali
Published: 2024-02-28
Category: Headlines
Category URL: https://fintechherald.com/category/headlines
Meta Title: Alrosa's Annual Net Profit Drops 15.2% in 2023
Meta Description: Discover how Russia's sanctions-hit diamond producer Alrosa faced a 15.2% drop in net profit in 2023, with insights on the impact of international restric
URL: https://fintechherald.com/russia-diamond-producer-alrosas-annual-net-profit-drops-15-2

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## **Russia diamond producer Alrosa’s annual net profit drops 15.2%**   MOSCOW (Reuters) -Russia’s sanctions-hit diamond producer Alrosa on Wednesday reported 2023 net profit of 85.18 billion roubles ($925 million), down 15.2% from the previous year.    Turnover was up 9.2% at 322.6 billion roubles.    Group of Seven leaders agreed in December to ban non-industrial diamonds from Russia by January, and Russian diamonds sold by third countries from March.    The European Union added Alrosa, Russia’s biggest diamond producer, to its sanctions list in January as part of punitive measures it has imposed on Moscow over the war in Ukraine.    ($1 = 92.0625 roubles)    (Reporting by Reuters; Editing by Alexander Smith)


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