On January 1, 2024, the import of non-industrial natural diamonds, artificial diamonds and diamond-containing jewelry from the Russian Federation into the European Union was banned by the G7 countries (USA, Canada, Germany, UK, France, Italy and Japan). came to power. About related decisionThe G7 announced in December 2023 that it aims to weaken the Russian economy.
In addition, starting from March 1, 2024, G7 countries will limit the import of 1-carat Russian diamonds processed in third countries. They also plan to create a mechanism for verification and certification of rough diamonds to strengthen these measures by September 1, 2024.
In addition, starting from September 1 of this year, EU countries will stop imports of synthetic diamonds processed in third countries, jewelry made in third countries using Russian diamonds of 0.5 carats or more, and wrist/pocket watches.
Head of the Ministry of Finance of the Russian Federation Anton Siluanov comments on the relevant decision of the G7 statedThe global diamond market is stable. He expressed confidence that Russian diamonds will find new markets.
Previously Governor of the Central Bank Elvira Nabiullina in the name The most painful sanctions against the Russian Federation.