Kirill Logvinov, the permanent representative of the Russian Federation to the European Union, said that the West’s plans to impose sanctions on diamonds from Russia aim to collapse the global market control system and threaten production and supply chains. This was reported by RIA News.
According to him, a mechanism parallel to the Kimberley Process could be created that would include the removal of precious stones of a certain origin from world trade.
The diplomat believes such an initiative is discriminatory and contrary to international trade rules and the foundations of the Kimberley Process. Its collapse is targeted and it carries serious risks for the functioning of global production and supply chains.
“The positions of some developing countries in these chains, especially diamond cutting centers, may also be under attack. “Such plans by the West once again show a complete disregard for the interests of states in the Global South,” the diplomat believes.
On September 15, Reuters, citing a representative from the Belgian government, said: reportedThe Big Seven (G7) countries are planning to impose an indirect ban on diamond supplies from Russia in the next two to three weeks. A Belgian government spokesman said the restriction should come into force in January.
Formerly US Treasury extended Sanctions against Russia.
Source: Gazeta
Emma Matthew is a political analyst for “Social Bites”. With a keen understanding of the inner workings of government and a passion for politics, she provides insightful and informative coverage of the latest political developments.