Poland and Lithuania Call for EU Diamond Sanctions on Russia

By John Jeffay / January 15, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Poland and Lithuania say they will again push for an end to Belgium's diamond trade with Russia.Diplomats from both countries are demanding tougher EU sanctions against Russia and its ally Belarus as the war in Ukraine approaches its first anniversary."Once again there is an attempt to extend sanctions on the export of Russian diamonds. The value of diamond exports to the Russian budget is estimated at ???EUR? ?4.5 billion. This is a considerable amount," an unnamed EU diplomat told the Polish news agency Polska Agencja Prasowa.Leaders of the 27 EU member states want to adopt a new package of sanctions before the EU-Ukraine summit in Kyiv, in early February."We will put pressure on the Kremlin with sanctions as long as necessary. We will extend sanctions to those who militarily support Russia's war, such as Belarus and Iran," said Ursula von der Leyen (pictured), President of the European Commission last week.Ukraine is also urging the EU to sanction Russia's state nuclear energy company Rosatom.The EU has imposed billions of dollars worth of sanctions on Russia, but has repeatedly decided against following the US by imposing a ban on rough diamonds.The Antwerp World Diamond Centre (AWDC), representing Belgium's diamond industry, has warned on many occasions that diamond sanctions could cost 10,000 jobs, and would do more harm to Antwerp than to Moscow.

Recent News

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com

Rise in gold stocks propels TSXV Mining

August 25, 2025 / www.canadianminingreport.com

Market sees gold sector nearing full value overall after target upgrades

August 18, 2025 / www.canadianminingreport.com

Gold stocks gain even as metal pulls back

August 18, 2025 / www.canadianminingreport.com

Gold stocks rocket to new highs, valuations no longer inexpensive

August 11, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok