Ukraine war: Russian diamonds set for ban under new EU sanctions

Ukraine war: Russian diamonds set for ban under new EU sanctions

BBC·2023-11-16 06:00

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The EU's 27 member states will make a final decision on the proposed ban on Russian diamonds in the coming weeks

By Sofia Bettiza

BBC News, Antwerp

Diamonds may be forever, but not when it comes to imports from Russia into the European Union.

Russia is the biggest producer of rough diamonds cut from hundreds of mines beneath the Siberian permafrost, where a third of the world's diamond supply comes from.

Now the European Commission has proposed extending to diamonds a series of sanctions imposed on Russia since its full-scale invasion of Ukraine.

The move is part of the EU's 12th round of measures against Moscow, due to come into effect in January. It is linked to the G7, which is also discussing a ban.

Since 2022, EU sanctions have covered Russian coal, gas, gold, vodka and even caviar.

But diamonds mined in Russia's north-east are still used in engagement rings, necklaces and earrings all over the world.

The EU has until now avoided a ban, largely because Belgium has been keen to protect the city of Antwerp: the diamond capital of the world.

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