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Belgium's prime minister says his country supports a ban on Russian diamonds as part of sanctions
Belgium’s prime minister says his country, which has the biggest interest in the global diamond trade in the European Union, is supporting a ban on Russian diamonds as part of sanctions targeting President Vladimir Putin’s government for its war against Ukraine
BRUSSELS (AP) — Belgium’s prime minister said his country, which has the biggest interest in the global diamond trade in the European Union, is supporting a ban on Russian diamonds as part of sanctions targeting President Vladimir Putin’s government for its war against Ukraine.
This came during Ukrainian President Volodymyr Zelenskyya’s visit to Brussels on Wednesday. He has repeatedly asked for such a move since the start of Russia’s invasion in February 2022.
For months, the Group of Seven advanced economies and the EU have been working on a scheme to trace and restrict the trade in Russian diamonds to prevent it from skirting the sanctions. Russia exports about $4 billion worth of rough diamonds a year, nearly a third of the world’s total, according to various estimates.