EU works on penalties against Russian diamond industry

World September 08, 2023, 15:39

The EU member states are trying to block means of circumventing the anti-Russian sanctions, the president of the European Council added

NEW DELHI, September 8. /TASS/. The EU countries are actively working on sanctions against the Russian diamond industry, President of the European Council Charles Michel said at a press conference in the Indian capital.

In addition, according to Michel, the EU member states are trying to block means of circumventing the anti-Russian sanctions.

The New York Times previously reported that the Group of Seven countries, as well as EU member states, intend to completely ban the purchase of diamonds from the Russian Federation.

The United States banned the import of rough diamonds from Russia last year, as well as diamonds cut in the Russian Federation. However, as the publication points out, such a limited approach leaves room for circumvention. So far, the EU has not applied diamond sanctions due to opposition from Belgium, whose economy is heavily dependent on the gem trade. Under the new restrictions, the embargo would also apply to gems mined in Russia but cut in other countries.

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