G7 leaders agree to limit imports of Russian diamonds, pledge support for Ukraine

(Patria) - G7 leaders agreed on Wednesday to limit imports of Russian diamonds from next year as part of tightening sanctions over Moscow's invasion of Ukraine, according to a statement, reported by AFP.

"We will implement restrictions on the import of non-industrial diamonds, mined, processed or produced in Russia, by January 1, 2024," the leaders said after a virtual summit with Ukrainian President Volodymyr Zelenskyy. This will be "followed by further phased restrictions on the import of Russian diamonds processed in third countries by March 1, 2024."

By the beginning of September, a "robust verification and certification mechanism for rough diamonds in the G7 based on traceability" will be established, it added.

The new restrictions add to a raft of sanctions that the United States and other countries have already imposed on Russia over its invasion of Ukraine in February 2022, with previous targets including financial institutions, technology imports and energy exports.

In his address to the G7 leaders on Wednesday, Zelenskyy warned of the collapse of Western unity, saying Russia was counting on this to happen next year. The White House has warned that the United States will run out of money for additional aid to Ukraine by the end of the year if Congress does not approve new funds.

In their statement, G7 leaders addressed the issue of support for Kyiv, pledging that it would continue.

"Our unwavering commitment to supporting Ukraine's fight for its independence, sovereignty and territorial integrity will not waver," they said.