In Fresh Sanctions, UK Announces Ban On Russian Diamonds Ahead Of G7 Meet

LONDON: The UK has announced a ban on Russian diamonds in a fresh round of sanctions amid the ongoing Ukraine war, along with those already in place for military, industrial and metals imports from Russia.

Russian diamond exports were worth USD 4 billion in 2021 and the ban on diamonds comes amid the Russia-Ukraine war showing no signs of slowing down.

Meanwhile, a ban on imports of Russian-origin copper, aluminium and nickel has also been announced by the UK government through a statement on Thursday.

Apart from these trade sanctions, an additional 86 members of Putin's military-industrial complex will also be targeted by the UK, as well as those engaged in vital industries including energy, metals, and shipping, the statement said.

The statement further said that UK is continuing its engagement with G7 allies to address all types of bypassing of sanctions, including those who are actively helping the Kremlin in its efforts to minimise the impact of current sanctions.

Prime Minister Rishi Sunak will also issue a warning against complacency in preserving "our ideals and against despotic governments," as he meets with G7 leaders in Hiroshima, the UK government said.

In order to hinder Russia's war effort, the UK has been applying the heaviest set of sanctions it has ever placed on a significant economy.

The official statement of UK government read, "To date we have sanctioned over 1,500 individuals and entities, freezing more than £18 billion of assets in the UK, and sanctioned over £20 billion of UK-Russia goods trade.”

Alongside other G7 leaders, PM Sunak is scheduled to visit the A-Bomb dome site at the Hiroshima Peace Park, before participating in discussions on global collaboration, the G7 reaction to the Ukraine, Indo-Pacific security policy, and nuclear non-proliferation.

"He will urge the international community to stay the course on Ukraine, ensuring it has the diplomatic, military and economic support it needs, in the interests of international peace and security," the government statement said.

During his meeting with President Zelenskyy on Monday, the UK PM confirmed increased military assistance, while emphasizing on the importance of long-term international support for Ukraine, considering the country's future in NATO.

The ban announcement came after the Sunak- Zelenskyy meeting. The two leaders discussed the way for Ukraine towards a stronger political alliance and greater cooperation with G7 and NATO members.

In recent times, the number of missile attacks against Ukraine has been considerably increased by Russia. On the other hand, it also seems that more of Russia's missiles are being shot down by Ukraine.

In the meantime, the United States is mulling new sanctions to "extensively restrict Russia's access to goods that matter for its battlefield capabilities," a US official said on Friday ahead of a G7 summit in Japan.

About 70 companies and organizations are likely to be blacklisted by the United States for selling restricted US products to Russia.

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