Imports of diamonds from Russia to EU banned from today

Imports of diamonds from Russia to EU banned from today

On January 1, a complete ban on direct imports of non-industrial natural and synthetic diamonds and diamond jewelry from Russia to the European Union came into force.

This was reported by DW, Ukrinform saw.

According to the previously adopted 12th package of EU sanctions against Russia, the European embargo on Russian diamonds processed in third countries will come into effect later - from March 1 to September 1, 2024.

Experts estimate that Russia earns between 3.7 and 4.6 million euros annually from the diamond trade.

Read also: Latest package of EU sanctions against Russia estimated at €2B a year - OP

In addition, the EU's 12th sanctions package envisages a tighter price cap on Russian oil exports to third countries. European companies will be required to provide evidence that they are complying with the price cap on oil from Russia imposed by Western countries.

The list of goods subject to sanctions is also expanding. In particular, lithium batteries, thermostats and a number of categories of chemical products are banned.

As Ukrinform reported, on December 18, the EU adopted the 12th package of economic and individual sanctions against Russia.

Photo: Pixabay

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