Belgium, as one of the world’s largest diamond trading centers, agrees to extend the G7 ban as part of the next round of EU sanctions against Russia, the sources said.
Diamonds should be the “main star” in the 12th round of EU sanctions against Russia. EUobserver reported this yesterday, citing a diplomatic source in Brussels.
The interlocutor said the European Union expects the G7 countries to announce restrictions on Russian diamonds “in the coming days.”
“The system has been ready for a few weeks now, and we are now waiting for the final declaration from the G7, which will put it into words and confirm the will of the G7 to work on this system,” he said.
The G7 countries account for 70% of global diamond demand. And Belgium, as one of the world’s biggest diamond trading centers, is fully in agreement to extend the G7 ban as part of the next round of EU sanctions against Russia, a European diplomat said. . This will remove the main obstacle to this step, which other EU countries and Ukraine have long sought.
According to various estimates, the export of rough and polished diamonds brings Russia up to 4 billion euros per year.
The previous day, the media reported that discussions on the 12th package of EU sanctions against Russia should begin this weekend.
Earlier, the head of the European Council, Charles Michel, confirmed that the G7 and the EU will work to limit trade in precious stones from the Russian Federation.
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.