G7 And EU Explore Measures For Tracing Russian Diamonds Across Borders

20 / 02 / 2023

The Group of Seven nations and the European Union are exploring options to trace Russian diamonds across borders...

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which may lead to future restrictions on their trade.

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Previous EU attempts to impose sanctions on Russian gems were met with resistance...

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as it is difficult to trace them once they leave the supply chain.

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The US has sanctioned Alrosa PJSC, the Russian mining giant that accounts for a third of the global trade in rough diamonds...

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but it has had limited impact. The G7 may release a statement on the matter soon to maintain pressure on Russia.

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