Kremlin says it prepared ways to circumvent sanctions on diamonds in advance
Tuesday, 19 December 2023, 15:39
The Kremlin promises to bypass the sanctions imposed by the European Union on Russian diamonds.
Source: Dmitry Peskov, the press secretary of the president of the Russian Federation, as reported by Russian media
Peskov said that Moscow already knows how to circumvent the restrictions, as it prepared for this in advance.
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"As for Russian diamonds, it was predicted, we were preparing for it. I doubt there are no options for circumventing these sanctions. They exist, and they will be implemented," Peskov promised.
Background:
- On 18 December, the European Union approved the 12th package of sanctions against Russia.
- The import, purchase and transportation of Russian non-industrial natural and synthetic diamonds, as well as diamond jewellery, has been prohibited starting 1 January 2024.
- Gradual restrictions on imports of diamonds processed in third countries will come into effect on 1 March, with a full ban coming into effect on 1 September 2024.
- The European Commission estimates Russia's income from diamond exports at 4 billion euros per year.
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