Omani Sovereign Wealth Fund Replaces Alrosa in Angola’s Catoca Diamond Venture
A subsidiary of Oman’s sovereign wealth fund has taken over Russian sanctions-hit Alrosa’s stake in Angola’s state-controlled diamond miner, Catoca, according to Angolan officials. Angola had faced mounting international pressure to sever ties with Alrosa, the Russian state-controlled diamond giant and world’s largest producer of rough diamonds by volume. This pressure began in 2022 following Western sanctions imposed on Alrosa due to Russia’s invasion of Ukraine. “From now on, we have a new partner who