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.