UK announces ban on Russian diamonds in a fresh round of sanctions

LONDON: In a fresh round of sanctions, the UK has announced a ban on Russian diamonds, alongside the military-industrial complex and metals amid the ongoing Ukraine war.

An industry worth USD4 billion in exports in 2021, the ban on diamonds comes amid the ongoing Russia-Ukraine war. The ban has also been announced on imports of Russian-origin copper, aluminium and nickel, the UK government said in a statement on Thursday. Along with these trade sanctions, the UK is also preparing to target an additional 86 members of Putin’s military-industrial complex as well as those engaged in vital industries including energy, metals, and shipping, the statement said.

As the UK continues to engage with G7 allies to address all types of sanctions circumvention, they also include those who actively help the Kremlin in its efforts to weaken the impact of current sanctions, it said.

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

To hinder Russia’s war effort, the UK has applied the harshest set of sanctions ever placed on a significant economy, it said.

“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,” the official statement of UK government read. Along with other G7 leaders, the prime minister is set 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.(IANS)

Also Read:Mahatma Gandhi’s Statue Unveiled by PM Modi in Japan

Also Watch: