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European Union sanctions Russia’s largest diamond producer


On Wednesday January 3, the Council of Europe launched further restrictive measures in opposition to an individual and an entity accountable for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.

The sanctions on Russian diamondsT are a part of a G7 effort to develop an internationally coordinated diamond ban that goals at depriving Russia of this vital income supply.

These designations complement the ban on the import of Russian diamonds included within the twelfth package deal of financial and particular person sanctions adopted on December 18, 2023 in anticipation of Russia’s battle of aggression in opposition to Ukraine.

In complete, EU restrictive measures regarding actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine now apply to nearly 1,950 people and entities in all. Designated individuals are topic to an asset freeze, and EU residents and firms are prohibited from making funds accessible to them. People are additionally topic to a journey ban, stopping them from getting into or transiting EU territories.

The related authorized acts, together with the names of the individuals and entities listed, have been revealed within the Official Journal of the EU.

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