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...
which may lead to future restrictions on their trade.
Previous EU attempts to impose sanctions on Russian gems were met with resistance...
as it is difficult to trace them once they leave the supply chain.
The US has sanctioned Alrosa PJSC, the Russian mining giant that accounts for a third of the global trade in rough diamonds...
but it has had limited impact. The G7 may release a statement on the matter soon to maintain pressure on Russia.