Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

EU and G7 intend to impose sanctions against diamonds from Russia


October, 12 2023
watermark Economic news

The European Union and the G7 countries are already close to introducing a system of sanctions against Russian diamonds, Belgian Prime Minister Alexander de Croo said during a press conference in Brussels.


The Minister stressed that Belgium is a key player in the global diamond trade, as about 90% of all diamonds in the world pass through the port city of Antwerp. And the current goal of the European Community is to exclude Russian diamonds from the world market. And in order to do this, we need an effective system for controlling the origin of stones. 


Earlier it was reported that the G7 countries, followed by the European Union, plan to impose sanctions against Russian diamonds and diamonds in the near future. It is assumed that the restrictions will take effect from January 1, 2024, although leading participants in the diamond market have expressed concerns about these plans.


Russia has repeatedly stressed its ability to resist Western sanctions imposed against it in recent years. Moscow noted that Western countries are not ready to admit the ineffectiveness of their sanctions, although such assumptions are being voiced more and more often among representatives of European officials.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.