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Anti-Russian sanctions

Russia to endeavor to soften consequences from sanctions against diamonds

Deputy Finance Minister Alexey Moiseev called on the parties concerned to pool efforts in supporting the efficient activity of the Kimberley Process in interests of sovereign countries and the entire raw diamond market

MOSCOW, November 1. /TASS/. Russia will take all the efforts to soften consequences of potential Western sanctions against its diamonds, Deputy Finance Minister Alexey Moiseev said in a letter to participants in the Kimberley Process before its forthcoming plenary session.

"The Russian Federation will endeavor to ease consequences of the devastating effect of ill-wishing actions of the West. If Western countries ignore the harmful erosion of the Kimberley Process, the diamond community will irreversibly lose the unique multilateral regulatory mechanism it is accustomed to and rightfully values," the letter posted on the website of the Finance Ministry reads.

"We urge the interested parties to pool efforts in supporting the efficient activity of the Kimberley Process in interests of sovereign countries and interested local communities and the entire raw diamond market," the letter stated.

The Kimberley Process was created to prevent raw diamonds from conflict zones coming to the market. A certification scheme was developed to this end.

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Foreign policy Sanctions vs. Russia

Anti-Russian sanctions

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