Russia: De Beers Moves Into the Kremlin's Turf

Diamond company De Beers announced April 16 that it will acquire 49 percent ownership of Russia's Verkhotina diamond mine — one of the largest diamond mines in the country. The move comes after the European Union's Supreme Court overturned a ban on De Beers' doing business in Russia, and during a time of internal restructuring for Russian diamond monopoly Alrosa. De Beers' purchase could lead to a nasty fight with the Kremlin.