Russia's war against Ukraine has been going on for over a year. The Western front made titanic efforts to limit Russia's income from significant export goods. However, the state's diamond industry was still intact and brought billions in profits that sponsored the war.
On March 6, ambassador James O'Brien and chief trade enforcement officer of the European Commission, Denis Redonnet, held talks on agreeing on measures to restrict Russia's diamond industry economically. Representatives of the industry's private sector took part in the negotiations: manufacturers, trade associations and retailers, and laboratories. According to the G7 statement, the import restrictions will include polished diamonds.
"The United States and European Union remain committed to imposing economic consequences on Russia for its unprovoked war in Ukraine," the US Department of state.