The G7 countries have reached an agreement on limiting the export of diamonds from the Russian Federation, according to a joint statement of the G7 leaders.
"To reduce the revenue that Russia receives from diamond exports, we will continue to work closely to limit the trade and use of diamonds mined, processed or produced in the Russian Federation, and we will work with key partners to effectively implement future coordinated restrictive measures, including through the use of tracking technologies ", the statement reads.
In the EU, trade in Russian diamonds has already fallen by about 80% due to voluntary commitments. But the EU has not yet introduced official restrictions on Russian diamonds, partly due to Belgian resistance.
Russia is the worldʼs largest producer of diamonds. Trade in precious stones is an important industry and a significant source of income for the Russian Federation.
- The Prime Minister of Great Britain Rishi Sunak informed about a prohibition on the import of Russian diamonds to Britain. We are talking about the freezing of the export market for $4 billion. The sanctions are expected to be unveiled this weekend.