The European Union is preparing a new sanctions package targeting Russia, with Bloomberg noting the potential inclusion of a ban on diamond imports from the Russian Federation. The proposal also signals a broader push to sanction Russia’s nuclear sector.
Earlier reporting from Soir, drawing on a Belgian government source, indicated that EU member states are considering sanctions on Russian diamonds this autumn, with some sources suggesting October or November as the timeframe. Under the envisaged rules, stones that carry non Russian markings might be allowed to circulate within the EU, while a ban on rough diamonds was anticipated to take effect on January 1, 2024, followed by a staged impact on treated diamonds. As the policy discussion evolved, the timeline remained subject to negotiation among EU capitals.
Bloomberg also noted that the European Commission plans to require organizations receiving dividends from frozen Russian assets to allocate the majority of those profits to the European Union budget. This represents a broader effort to channel economic gains from sanctions back into EU fiscal resources.
In related developments, discussions have continued around how sanctions are implemented and how the designation of Russian oligarchs is applied in practice, reflecting ongoing debates about enforcement and the scope of economic pressure.