EU Plans to Restrict Russian Diamond Trade

The European Union will work towards restricting the trade of Russian diamonds, President of the European Council Charles Michel announced on Friday during a press conference ahead of the G7 summit in Hiroshima.

"Russian diamonds are not forever," Michel's words are quoted by Bloomberg. The agency notes that a diamond trade ban at the EU level will require support from all member states. The Council President also mentioned measures to control the implementation of sanctions against Russia and support for Ukraine.

Earlier, British Prime Minister Rishi Sunak announced a ban on imports of Russian diamonds, copper, nickel, and aluminum. “This year we will pass a law to ban the import of Russian diamonds and halt all imports of copper, aluminum, and nickel of Russian origin, based on existing bans on Russian iron and steel," the statement from the Prime Minister's office reads.

The G7 summit of leading countries opened on Friday in Hiroshima and will continue until May 21.