EU hits Russia's diamond industry with new round of sanctions over Ukraine war
ABC News
The European Union is imposing sanctions on Russia over its war against of Ukraine, targeting the lucrative diamonds industry as well as more than 140 officials and organizations
BRUSSELS -- The European Union said Monday that it has imposed fresh sanctions on Russia over its war against of Ukraine, targeting the lucrative diamonds industry, more than 140 officials and organizations, and closing loopholes that Moscow has used to bypass previous punitive measures.
It’s the 12th round of sanctions that the EU has slapped on Russia since President Vladimir Putin ordered his troops into Ukraine almost two years ago.
EU headquarters said the latest measures would “deliver a further blow to Putin’s ability to wage war by targeting high-value sectors of the Russian economy and making it more difficult to circumvent EU sanctions.”
The import, purchase or transfer of Russian non-industrial natural and synthetic diamonds and diamond jewelry will be banned starting Jan. 1. The ban applies to diamonds originating in Russia, exported from Russia and transiting through Russia, as well as Russian diamonds processed elsewhere.
The new round of sanctions also obliges EU companies to prohibit in their contracts the export of certain goods so buyers can’t sell them on to Russia, particularly “sensitive goods and technology” that could be used by the Russian armed forces in Ukraine.
