EU expected to roll out 12th sanctions package targeting Russia with potential diamond embargo and new controls
In the coming days, the European Union is set to begin consultations among member states on a broad new round of sanctions aimed at Russia. Reports from Bloomberg, citing knowledgeable officials, indicate that this 12th package could introduce a ban on Russian diamonds and introduce additional measures designed to counter evasion of existing sanctions. The package is also anticipated to expand the list of goods that could be restricted for military purposes, reflecting the EU’s ongoing effort to tighten pressure on Moscow while maintaining a calibrated approach to disruption across multiple sectors.
Observers note that the proposals are being developed with an emphasis on closing gaps that have allowed certain sanctioned entities to operate despite existing restrictions. The goal, as described by sources familiar with the process, is to reinforce the effectiveness of sanctions while ensuring a coherent and enforceable framework across all member states. The discussion comes as the EU weighs how to address concerns about evidence used to justify measures against individuals connected to the Kremlin amid the broader conflict in Ukraine. These considerations are shaping the behavior of policymakers who want to balance punitive actions with the risk of unintended consequences for civilians and international partners. [Politico]
Earlier reporting from Soir, citing a Belgian government source, indicated that EU member states plan to implement sanctions on Russian diamonds later in the autumn. Depending on the source, restrictions could be introduced in October or November. Under the proposed rules, stones with non-Russian markings might be allowed to circulate within the EU, even as a ban on rough diamonds was planned to take effect from early 2024 and would gradually extend to treated diamonds thereafter. The approach signals a staged rollout intended to protect market stability while applying sustained pressure on Russian diamond shipments. [Soir]
In related coverage, analyses from outlets reflecting on the broader economic confrontation describe the widening gap between Western policymakers and the Kremlin’s economic strategy. The evolving sanctions regime, including any new measures on diamonds, forms part of a larger attempt to constrain Moscow’s access to key revenue streams while maintaining a cohesive front among EU member states and allied partners. The dynamic underscores the persistent challenge of maintaining unity and clarity across diverse economies, political climates, and sanctions enforcement capabilities. [West]