New sanctions expected to hit the Russian diamond industry
11/25/2023, 2:37:11 PM
Highlights: New sanctions expected to hit the Russian diamond industry. The twelfth package of sanctions presented in Brussels proposes a series of new import and export bans. The package will now be handled by member states, mainly through their ambassadors in Brussels. Full unanimity is required for the package to go through, SVT's Maria Lapenkova says. It is unclear what effect this could have on Russia's diamond industry, she says, but it could change the market and sell diamonds to China or India.
New sanctions from the EU await Russia. The twelfth package of sanctions targets Russian diamonds, among other things, but it is unclear what effect this could have. "Russia can change the market and sell diamonds to, for example, the United States. China or India, says SVT's Maria Lapenkova.
The twelfth package of sanctions presented in Brussels proposes a series of new import and export bans, including against the Russian diamond industry.
"According to U.S. estimates, diamonds are on Russia's top 10 list of the country's most profitable export products, if you don't count oil products," says Maria Lapenkova.
The package will now be handled by member states, mainly through their ambassadors in Brussels. Full unanimity is required for the package to go through.
Hear more about the sanctions package in the video above or watch the full episode of War of the Week here.