US targets Indian jewelers over Russian diamond allegations ...News

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US targets Indian jewelers over Russian diamond allegations
Around $26 million in transfers has been stalled as a result of the measures US authorities have frozen transfers worth around $26 million by firms belonging to Indian diamond dealers over alleged imports from Russia, the Economic Times reported on Monday.   The step by the US Treasury Department’s Office of Foreign Assets Control (OFAC) reportedly targeted subsidiaries of Indian diamond houses registered in the United Arab Emirates.   Dollar payments by the UAE-based firms were stalled due to suspicions that their supplies have Russian origins, or that they have investments and other connections with Russian mine

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