Amid escalating geopolitical tensions, Russian diamond giant Alrosa has announced plans to offload its 41 percent stake in the Catoca diamond mine, situated in Angola
According to Interfax, quoting Russia's Ministry of Finance Moiseyev, Alrosa will have to sell its stake in Angola's Catoca operation, as pressure from the West on the Angolans mounts to cut ties with Russian, sanctioned entities. According to Moiseyev negotiations to take over Alrosa's share, which originally stood at 41% of the mining operation, are ongoing with "friendly investors".
Despite consistent assurances made by high-ranking Russian officials that Africa is "in the mainstream of Russia's foreign policy" have not been substantiated by systematic noticeable completed projects, and worse serious lack of financial support for bilateral agreements, and this has necessitated the pulling out of a number of Russian companies from Africa.
Russia, Angola Economic Relations Rising To Unprecedented Levels – OpEd eurasiareview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eurasiareview.com Daily Mail and Mail on Sunday newspapers.
G7 Sanctions: Alrosa to Sell Share in Catoca Mine idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.