https://newsletter.mw.creamermedia.com
Diamonds
Diamonds
diamonds

Kremlin, facing diamond ban, says EU sanctions have 'boomerang effect'

20th November 2023

By: Reuters

  

Font size: - +

MOSCOW - The Kremlin, facing the prospect of a European Union ban on imports of Russian diamonds, said on Monday that EU sanctions tended to have a "boomerang effect" on those who applied them.

Kremlin spokesman Dmitry Peskov was commenting on a proposed EU ban on diamond imports from Russia as part of a new sanctions package against Moscow over the conflict in Ukraine.

Russia is the world's biggest producer of rough diamonds by volume. Peskov told reporters such a move had been anticipated for a long time, but was likely to backfire.

"As a rule, it turns out that a boomerang effect is partially triggered: the interests of the Europeans themselves suffer. So far, we have been able to find ways to minimise the negative consequences of sanctions," he said.

EU diplomatic sources said last week the proposal under discussion was to ban direct diamond imports from Russia from Jan. 1, and from March to implement a traceability mechanism that would prevent imports of Russian gems processed in third countries.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

 
 

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 December 2025
Magazine round up | 12 December 2025
12th December 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.185 0.266s - 127pq - 2rq
Subscribe Now