By January 1, 2024, G7 to impose sanctions against Russian diamonds – statement

The G7 countries will introduce a phased ban on imports of Russian diamonds. The import of diamonds mined or processed in Russia may be banned by January 1, 2024.

Further restrictions will apply to imports of Russian diamonds processed in third countries, the statement said.

In addition, to strengthen the effectiveness of these measures, the statement said that by September 1 next year, the G7 countries, which are the main importers of rough diamonds, should introduce a mechanism for verifying and certifying such diamonds based on their traceability.

The ban on the import of diamonds from Russia and the introduction of indirect restrictions was previously announced by the head of EU diplomacy, Josep Borrell.

On November 17, the EU Observer, referring to the draft document, wrote that the ban on the import of Russian diamonds will affect jewelry.

In addition to the ban on the import of Russian diamonds, the EU, as part of the 12th package of anti-Russian sanctions, proposes to introduce a ban on the export of certain types of machines and their parts to the Russian Federation.