G7 and sanctions on Russia, there is a tightening on diamonds: Moscow’s reaction

Peskov: “Others will buy them”

“We stand united in imposing coordinated sanctions and other economic actions to continue to undermine Russia’s ability to wage its illegal aggression” on Ukraine. Thus the leaders of the G7, meeting in Hiroshima, in the joint statement. There is also room for a tightening on diamond exports. “In order to reduce the revenues deriving from the export of diamonds – the document states – we will continue to work closely to limit the trade and use of diamonds extracted, processed or produced in Russia”, with the “objective to ensure effective implementation of future coordinated restrictive measures, including through stone tracking technologies.

The squeeze on Russian diamond exports was announced at the G7 summit by the president of the EU Council, Charles Michel, with the phrase “Russian diamonds are not forever”. The reaction from Moscow was immediate. ”When a product is no longer bought in one place, it is bought elsewhere,” commented Kremlin spokesman Dmitry Peskov. ”The world market is full of alternative directions” for which ”Russian goods that are not in demand in one country are starting to be purchased elsewhere”, said Peskov.