G7 countries agree to gradually introduce restrictions on Russian diamond imports

LONDON. Dec 6 (Interfax) - G7 countries have agreed on measures to restrict imports of Russian diamonds, with the first restrictions to be enacted starting January 1, 2024, according to a G7 statement published by the British Prime Minister's Office.

"We will introduce import restrictions on non-industrial diamonds, mined, processed, or produced in Russia, by January 1, 2024, followed by further phased restrictions on the import of Russian diamonds processed in third countries targeting March 1, 2024," the document says.

"To further the effectiveness of these measures, those G7 members who are major importers of rough diamonds will establish a robust traceability-based verification and certification mechanism for rough diamonds within the G7 by September 1, 2024," it says.