Report: G7 can slap sanctions on Russian diamonds from Jan 2024

MOSCOW, Aug 28 (PRIME) -- The G7’s sanctions that will ban imports of Russia-produced diamonds are expected to be announced in September and to come into force from January 2024, The New York Times reported on Monday.

“Russia is the world’s biggest diamond exporter by volume, with a state-owned company, ALROSA, mining almost one third of all diamonds produced in 2021,” the daily reported.

“Now, the diamond industry is readying itself for the unveiling of sanctions from the Group of 7 nations – Britain, Canada, France, Germany, Italy, Japan and the United States – and the European bloc that would prohibit the import of gemstones mined in Russia, including those cut and polished in other countries,” the daily also reported.

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