EU BANS DIAMOND IMPORTS FROM RUSSIA
December 28th, 2023
The European Union (EU) has banned imports of diamonds from Russia, which amounted to EUR1.3 billion in 2022, because of the country’s ongoing invasion of Ukraine. Most of these precious stones are sold to Belgium, a key diamond trader - under EUR500,000 go to other EU member states, according to the European Commission (1). The ban, said an EU Council of Minsters vote, applies to "diamonds originating in Russia, diamonds exported from Russia, diamonds transiting Russia and Russian diamonds when processed in third [non-EU] countries.” It will cover ...
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