By Shivangi Acharya
India has asked the U.S. to allow the release of $26 million belonging to at least two Indian diamond firms that was frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters.
The funds were frozen earlier this year due to U.S. sanctions on Alrosa that were imposed in April 2022 by the U.S. Treasury’s Office of Foreign Assets Control, two of the sources said. Both the sources are Indian government officials, who declined to identify themselves or the companies, citing the sensitivity of the matter.
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