EU and G7 intend to impose sanctions against diamonds from Russia

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.