The European Union must stop importing diamonds from Russia, five of the bloc's 27 countries said in a joint proposal seen by Reuters, as the EU prepares new sanctions against Moscow for waging war against Ukraine.
The EU, which has so far implemented six rounds of sanctions since Russia invaded Ukraine on Feb. 24, needs unanimity to agree any such ban that Belgium - home to the world's biggest diamond trading hub Antwerp - has rejected in the past.
Poland, Ireland, Lithuania, Estonia and Latvia proposed introducing a retaliatory ban on imports of diamonds from Russia, where AlrosaThe Antwerp World Diamond Centre said sanctions would take away some 30% of business and benefit rival trade hubs, adding clients should be allowed to decide themselves if they wanted Russian gems.
But on Sept. 14, Prime Minister Alexander de Croo told an international diamonds conference that such a ban would be a "huge loss" and would hurt an industry accounting for 5% of Belgium's exports and supporting some 30,000 jobs.