RUSSIA PHOTO SET DIAMOND SANCTIONS

Proposed sanctions to halt trade in Russian diamonds

epa10901356 Women look at jewelry during the Russian jewelry industry's 'JUNWEX Moscow 2023' exhibition in Moscow, Russia, 29 September 2023. (issued 05 October 2023). The European Union plans to limit trade in Russian diamonds, said Chairman of the European Council Charles Michel. From the beginning of 2024, the G7 plans to introduce a direct ban on the import of Russian diamonds, and will also develop a mechanism for indirect bans that will limit their movement across the border. Around one-third of the world?s supply of diamonds are mined by Russian state-owned company Alrosa resulting in contributions of over 4.5 billion US dollars to the Russian economy each year. The proposed sanctions come after Russia's invasion of Ukraine in February 2022. EPA/MAXIM SHIPENKOV ATTENTION: This Image is part of a PHOTO SET

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