UK to ban imports of Russian diamonds
Russian diamond imports to the UK are among a number of items that will be banned as the government steps up sanctions against Vladimir Putin.
Britain’s Prime Minister Rishi Sunak, who is in Tokyo ahead of the annual G7 summit, announced the ban as the government unveiled a new wave of sanctions against Russia.
As well stopping the supply of Russian diamonds into the UK market, it is also targeting imports of metals including copper, aluminium and nickel.
The Russian diamond industry was worth £3.2 billion in exports in 2021, according to BBC reports.
UK sanctions against a total of 86 individuals and entities were announced yesterday, freezing the assets of those involved with key revenue streams.
Through a combination of these designations and new import bans on Russian diamonds and metals, the UK said it is working with international partners to further constrain Russia’s capacity to wage its illegal war, increasing economic pressure, and tackling all emerging forms of circumvention until Ukraine prevails.
Foreign Secretary James Cleverly said: “Putin and his supporters must – and will – pay the price for their illegal invasion of Ukraine.
“That’s why through today’s new sanctions we are increasing the economic pressure on Putin– making it harder for him to wage his illegal war and inflict untold suffering on innocent Ukrainians.
“We will continue to increase this pressure and crack down on all emerging forms of circumvention until Ukraine prevails and peace is secured. Our support for Ukraine is, and will remain, resolute for as long as it takes.”