As of Monday, January 1, the ban on trading diamonds originating from Russia has come into effect.

The corresponding decision regarding Russian diamonds was adopted as part of the 12th package of sanctions against Russia.

The measures adopted include a prohibition on the direct or indirect import, purchase, or transfer of diamonds from Russia. The ban, previously agreed upon at the level of the G7, will take effect from January 1, 2024.

Restrictions on Russian diamonds processed in third countries will be implemented from March 1 to September 1, 2024.

According to estimates, the export of diamonds brings the Kremlin 4 billion euros annually.