EU prepares to sanction Russian diamonds

European Union (EU) Council President Charles Michel said they will close loopholes in sanctions and restrict diamond trade with Russia.

Michel spoke to the press ahead of the G7 Leaders Summit in Hiroshima, Japan.

“We will continue to provide strong military, political, humanitarian and financial support to Ukraine,” Michel said, adding that the EU and its member states have provided more than 70 billion euros to Ukraine so far.

NEW MEASURES WILL BE TAKEN

Noting that the EU has taken comprehensive measures with sanctions packages to prevent Russia, Michel said: “We are now focused on closing the legal loopholes in the sanctions.”

Explaining that they continue to prevent Russia’s access to critical materials, Michel stressed that they will take further measures.

“We will restrict the trade in Russian diamonds,” Michel said, adding that they will make it clear at the G7 summit why sanctions against Russia are necessary and justified.

Noting that relations with China will also be discussed at the meeting, Michel said “a stable and constructive relationship with China is in our mutual interest.”

“WE WANT TO REDUCE THE RISK”

Noting that the EU is determined to preserve its values ​​and interests, Michel said: “We don’t want to be separate, but we want to reduce our excessive dependencies and reduce risk.”

Michel added that they should also tackle China’s unfair practices and rebalance trade relations.

The leaders of the US, France, England, Germany, Canada and Italy attend the summit hosted by Japanese Prime Minister Kishida Fumio.

In addition to the G7 countries, the EU, Indonesia, India, South Korea, Australia and Vietnam are also invited to the summit. (AA)