USA and EU prepare sanctions against Russian diamond industry – State Department

This is stated in the message of the US State Department published on Monday, March 6.

"Today, Ambassador James O’Brien joined Deputy Director General and Chief Trade Enforcement Officer Denis Redonnet of the European Commission to discuss with the U.S. and European offices of leading diamond retailers, manufacturers, laboratories, and industry trade associations the importance of the diamond industry’s engagement on future Russia-related import measures, including on polished diamonds," the message states.

At the same time, it is specified that this issue was noted in the recent G7 Leaders’ Statement because Russia continues to earn billions of dollars from the diamond trade. Therefore there is a need to introduce the most effective and impactful ways to disrupt this stream of revenue for Russia.

"The United States and European Union remain committed to imposing economic consequences on Russia for its unprovoked war in Ukraine," the statement emphasized.

• On March 4, the European Parliament President called for the strengthening of sanctions against Russia, mentioning diamonds.