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Canada imposed ban on direct import of Russian diamonds

Canada imposed ban on direct import of Russian diamonds Head of the Canadian Ministry of Foreign Affairs Melanie Joly (photo: Getty Images)

Canada, following consultations with G7 countries, has imposed a ban on the import of Russian diamonds and jewelry made with them, states the Canadian Minister of Foreign Affairs, Mélanie Joly.

"The implementation of this ban, in collaboration with our G7 partners, sends a clear message to Russia: we will not tolerate the use of Russia’s diamond revenues to finance war. We call on President Putin to immediately put an end to this unjustifiable war of aggression against Ukraine, and we will continue to stand by Ukrainians for as long as it takes," said Joly.

It is reported that Canada will continue to work with its G7 and other international partners to implement comprehensive control and verification measures to prohibit Russian diamonds.

Ban on Russian diamonds

Earlier, President Joe Biden and the leaders of the G7 countries agreed to impose a ban on Russian diamonds. The import ban will take effect on January 1, 2024, and then, gradually over the course of a year, an embargo on the circulation of stones will be introduced.

Under the new measures, countries will prohibit non-industrial diamonds from Russia starting from January, and diamonds sold by third countries but originating from Russia will be banned from March.

The European Union is also working on a ban on diamonds from Russia. According to The Guardian, proposals from the European Commission, which still need approval from EU leaders at the upcoming summit in December, include steps aimed at cutting off Russia's commercial revenues. This includes a complete ban on the sale within the bloc of Russian diamonds and jewelry using precious stones from Siberian mines.