G7 Prepares to Restrict Trade of Russian Diamonds

Belgium's government representative anticipates that the G7 nations will announce indirect restrictions on the trade of Russian diamonds. According to the Belgian official, an announcement regarding indirect restrictions on the supply of Russian diamonds is expected within the next 2-3 weeks. The ban, as reported, is slated to take effect in January.

The G7 had previously declared plans to limit the diamond trade with Russia in an effort to reduce the revenues that fund Russia's war in Ukraine, back in May. However, no details regarding the sanctions' workings have been disclosed since.