Angola closes Russia's way to diamond business - media

This was reported by Expansão, according to Ukrinform.

As noted, the Angolan authorities are putting pressure on the Russian diamond company 'Alrosa' to withdraw from the joint business Sociedade de Catoca, which owns the fourth-largest diamond mine in the world.

According to Expansão, diamond production at the mine has declined, and many suppliers and banks refuse to work with Catoca because of its ties to the Russians.

The newspaper also claims that last week, Angolan representatives met with a Russian delegation in Dubai to discuss the terms of 'Alrosa's' withdrawal from Sociedade Mineira de Catoca. 'Alrosa' currently holds 41% of the shares. The Angolan side allegedly demands that the Russians leave the business without conditions, while the Russians want compensation for their investments.

As reported, the Angolan government announced its withdrawal from the Organization of Petroleum Exporting Countries (OPEC) after 16 years of membership amid a heated dispute over production quotas.