Belgium commits €1.7 billion for Ukraine's assistance, drawing from taxed frozen Russian assets. The EU and G7 explore taxing immobilized Russian sovereign assets, while Belgium works on banning Russian diamonds from its markets.
The draft text of the 8th EU sanctions package targets Russian steel and cosmetics industry but not diamonds
The draft text of the 8th EU sanctions package on Russia will ban imports of several steel products,…
In previous sanction packages, Russia faced bans on exports of coal, gas, gold, vodka and caviar. However, diamonds represent one of Russia's top ten non-energy exports by value, with 2021 diamond exports totaling over $4.5 bn.