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Russia guarantees it will circumvent EU sanctions on diamonds

Russia on Tuesday guaranteed it would use all available means to circumvent sanctions on Russian diamonds adopted on Monday by the Group of Seven most industrialized countries (G7) and the European Union.

“Relatively [às sanções] to Russian diamonds, this was to be expected, and we are ready,” said the press secretary of the Russian President (Kremlin) Dmitry Peskov at his daily press conference.

The Kremlin reacted on the 12th. A package of sanctions against Russia announced by the European Council in response to the war in Ukraine.

“I don’t believe there are ways to get around these sanctions, and we will use them,” he repeated.

“We will do everything to protect and guarantee the interests of Russia,” Peskov emphasized, adding that “the industries against which sanctions can be imposed have already been exhausted.”

From January 1, the import of diamonds from Russia, which annually receives about 4.5 billion euros from the sale of these precious stones, will be prohibited.

The ban on the purchase of Russian diamonds cut in a third country will come into force on March 1, 2024, and from September 1 the ban will be extended to diamonds, jewelry and watches containing diamonds produced in Russian laboratories.

The restrictions are the same as those adopted by the G7 on the 6th during a virtual meeting of the leaders of the seven richest countries.

The sanctions also apply to chemical products, lithium batteries, thermostats, DC motors and servo motors for unmanned aerial vehicles (“drones”), machine tools and machine parts.

The already existing ban on the import of crude oil transported by sea and some petroleum products from Russia into the EU, as well as its maximum limit, were also strengthened.

In addition, new restrictive measures will cover more than 120 individuals and legal entities, including another 29 organizations that “directly support the Russian military-industrial complex.”

Meanwhile, last Tuesday the European Commission proposed an initiative to identify resources associated with Russian sovereign assets frozen due to EU sanctions, with a view to using them to restore Ukraine.

The Russian military offensive into Ukraine, launched on February 24 last year, has plunged Europe into its most serious security crisis since World War II (1939-1945).

Ukraine’s Western allies have supplied weapons to Kyiv and approved successive packages of sanctions against Russian interests in an attempt to reduce Moscow’s ability to finance the war effort.

Author: Lusa
Source: CM Jornal

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