G7 to discuss diamond trade with future Russia sanctions in mind

World 15:25 18.05.2023
Leaders of the Group of Seven (G7) nations will discuss how to trace Russian diamond trade at a summit this week with the aim of imposing restrictions at a later stage, an EU official said on Thursday. “You can expect this to be mentioned in the G7 communique,” an EU official told reporters in a briefing, EDnews reports citing Reuters.
 
The official said there would not be an agreement at this stage, but he was confident that talks between leaders in Hiroshima, Japan, between May 19-21 would open the door to putting a system in place before restrictions were implemented.
 
Poland in April presented a proposal for a new set of sanctions on Russia for waging war against Ukraine, including oil and diamond imports, but the debate over the precious gems has been complex in the European Union. While some states have called for sanctions, Belgium - home to the world’s biggest diamond trading hub in Antwerp - has rejected restrictions.
 
The Antwerp World Diamond Centre has said sanctions would take away some 30% of its business and benefit rival trade hubs, adding clients should be allowed to decide themselves if they wanted Russian gems.
 
The EU official said given the size of the market there would need to be a broader discussion with countries such as this year’s G20 host India, which do not necessarily fully back Western sanctions on Russia.
 
India’s prime minister has been invited to the G7 summit.

 

IEPF issued a statement regarding Azerbaijani children at the UN Human Rights Council

News line

Members of the Public Council under ANAMA have visited the region
16:52 08.05.2025
The "Roots of Peace" organization will host the "Peace Walk"
16:49 08.05.2025
"Since 1948 SL Heads of State have ‘relayed’ on the Ethnic conflict"
15:32 08.05.2025
A conference on the topic "Heydar Aliyev-Independence and Glorious Victory" was held in Lachin
12:44 08.05.2025
Azerbaijan showcases tourism opportunities in Israel
12:39 08.05.2025
''Azerbaijan House'' opened in Lebanon
12:33 08.05.2025
Vietnam prioritizes strategic and political cooperation with Azerbaijan
12:27 08.05.2025
Opening of new Baku City Prosecutor's Office building held
12:23 08.05.2025
Azerbaijani and Morocco may organize mutual cultural days
12:15 08.05.2025
Sahiba Gafarova: Heydar Aliyev's personality is symbol of wisdom for every Azerbaijani
12:09 08.05.2025
Milli Majlis to adopt statement on Heydar Aliyev's 102nd birth anniversary
12:03 08.05.2025
Azerbaijan Confederation of Trade Unions organized an event
11:58 08.05.2025
The 102nd anniversary of the birth of National Leader Heydar Aliyev was celebrated in Berlin
11:52 08.05.2025
Azerbaijan's First Lady Mehriban Aliyeva attended session at Antalya Diplomacy Forum
11:43 08.05.2025
Azerbaijan, Vietnam explore prospects for educational cooperation
11:37 08.05.2025
Petrovietnam aims to expand cooperation with Azerbaijan
11:32 08.05.2025
The heads of state of Azerbaijan and Vietnam made statements to the press
11:29 08.05.2025
Kamran Aliyev:' 'Heydar Aliyev had unparalleled role as founder of Azerbaijani statehood''
11:24 08.05.2025
Azerbaijani and Vietnamese discuss strategic partnership
11:21 08.05.2025
Azerbaijan ready for further coordination and cooperation with Syria
11:16 08.05.2025
Scientists have discovered a possible candidate for the ninth planet in the solar system
11:12 08.05.2025
Business Council to be established between Azerbaijan and Vietnam
11:08 08.05.2025
May 8 is World Thalassemia Day
11:03 08.05.2025
Special session of Milli Majlis dedicated to year of Constitution and sovereignty
10:59 08.05.2025
General Secretary of the Central Committee Of Vietnam visited the Alley of Martyrs
10:51 08.05.2025
General Secretary of the Central Committee of Vietnam visits the Old City
10:47 08.05.2025
Azerbaijan's position with China as a reliable partner is strengthening
10:43 08.05.2025
The Aztelekom flag was raised at the Heydar Aliyev Summit
10:39 08.05.2025
President: There are great prospects for cooperation between Azerbaijan and Vietnam in the defense industry
10:34 08.05.2025
Azerbaijani and Iraqi FMs explore regional issues
10:25 08.05.2025
Joint Statement opens new chapter in the history of Vietnam-Azerbaijan relations
10:12 08.05.2025
Leaders of Azerbaijan and Vietnam viewed exhibition of Vietnamese paintings
10:09 08.05.2025
Azerbaijani Foreign Minister meets with Iraqi PM
10:02 08.05.2025
Rebuilding hope amid the landmines Thembisa Fakude writting...
13:45 07.05.2025
How TikTok and Instagram Became New Tools of Diplomacy?
12:44 07.05.2025
Students of one of Turkey's leading universities were informed about the legacy of the great Nizami Ganjavi
12:26 07.05.2025
Azerbaijani energy minister holds several meetings in Türkiye
12:21 07.05.2025
Azerbaijan-Iran bilateral cooperation agenda discussed in Baku
12:18 07.05.2025
Azerbaijan shows progress in banking regulatory reforms
12:17 07.05.2025
About 20 Azerbaijani citizens returned from Germany yesterday
12:13 07.05.2025
Hamısı