Diamond Ban News Today : Breaking News, Live Updates & Top Stories | Vimarsana

European Union countries are close to agreeing a deal on a proposed 12th package of sanctions on Russia focused on a Russia-origin diamond ban and new measures to stem the flow of Russian oil, according to four people familiar with the matter. While the biggest part of the new measures is the ban on non-industrial Russian diamonds, EU countries have also been looking to make it harder to circumvent existing sanctions, including the G7 oil price cap. The text includes tougher measures on how to prove Russian oil is traded under the ceiling as compliance has waned in recent months.

The Kremlin, facing the prospect of a European Union ban on imports of Russian diamonds, said on Monday that EU sanctions tended to have a “boomerang effect” on those who applied them

Europe News: The Kremlin has responded to the European Union's potential ban on Russian diamond imports, cautioning that such sanctions typically have a "boomerang

The EU is preparing to ban Russian diamonds as early as next week, with the support of G7 countries and Belgium.

Alrosa told customers that it will pause sales of rough diamonds in September and October, according to Bloomberg.