The new package of EU sanctions will affect 90 companies worldwide, and the G7 has targeted Russian diamonds.

The sanctioned companies are ones that help the Russian Federation to circumvent sanctions, said the President of the European Commission, Ursula von der Leyen. Among these 90 companies, approximately eight are registered in China. In turn, the leaders of the G7 also agreed to increase the sanctions pressure on Russia by introducing new restrictions, including Russian diamonds. The G7 will work to reduce the trade and use of diamonds mined, processed, or produced in Russia. Furthermore, the group intends to implement restrictions using tracking technologies. In addition, the G7 seeks to reduce the Russian Federation’s income from the sale of metals, to close Russia’s schemes to circumvent the price limits for oil and petroleum products, financial loopholes in the branches of Russian banks in third countries, and gradually push the Russian Federation out of the nuclear fuel market.

UBN

Ukraine War 24

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