# Russia diamond producer Alrosa’s annual net profit drops 15.2%
Published: 2024-02-28
Category: News
Category URL: https://technologydispatch.com/category/news/
Meta Title: Alrosa Diamond Producer Annual Profit Drops 15.2%
Meta Description: Explore Alrosa's financial report for 2023, with a 15.2% decline in net profit, as sanctions and market shifts impact Russia's leading diamond
URL: https://technologydispatch.com/russia-diamond-producer-alrosas-annual-net-profit-drops-15-2/

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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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