BAt the G7 summit in Japan, new punitive measures will be imposed against Russia: for example, the EU wants to „restrict” the trade in Russian diamonds as part of the sanctions because of Russia’s war of aggression against Ukraine. This was announced by EU Council President Charles Michel on Friday at the G7 summit in Hiroshima, Japan.
Britain had earlier announced a ban on the trade in Russian diamonds. Prime Minister Rishi Sunak announced in a statement that the UK will therefore impose a ban on the import of Russian diamonds as well as copper, aluminum and nickel from Russia. In addition, the British government is preparing to impose new sanctions on 86 people and companies.
The United States also announced a new package of sanctions in response to Russia’s war of aggression against Ukraine. Among other things, the plan is to cut off about 70 companies and organizations from Russia and other countries from US exports, said a senior US government official in Hiroshima. In addition, more than 300 individuals, companies and organizations, ships and aircraft will be subject to other punitive measures.
The US government official said the plan aims to further impede access to critical goods on the battlefield. Sanctions against companies, organizations and individuals are intended to target financial and other pro-Russian supporters. The sanctions hit targets in Europe, the Middle East and Asia. In addition, the sanctions powers should be extended to the digital sector of the Russian economy.
The US official said all G7 countries were preparing for new sanctions and export controls at the same time. He did not comment on the partners’ plans in detail. But the United States will launch a broad package of its own. The goal is to increase economic pressure on Russia and make it more difficult to maintain its war machine. Specific details regarding the new US sanctions package should follow.
Russia’s war against Ukraine is among the main topics of the meeting of Japan’s seven leading democracies, which officially began on Friday. To get things started, Japanese Prime Minister Fumio Kishida has welcomed other heads of state and government to a visit to the Museum of Peace, which commemorates the US atomic bomb attack on the city on August 6, 1945. At the three-day summit, the G7 nations want to coordinate their new sanctions against Russia, from Among other things, its decisions are not legally binding. Japan and Canada are also expected to announce new sanctions.
„Unified and permanent company in our support of Ukraine”
There will be a separate declaration on Ukraine at the Hiroshima summit. A US official said the agreement includes new commitments to close loopholes in existing sanctions and reduce dependence on Russian energy. Efforts to restrict Russia’s access to the international financial system should also continue.
„As the sanctions announced today show, the G7 remains united in the face of the Russian threat and stands firm in our support of Ukraine,” British Prime Minister Rishi Sunak said on the sidelines of the G7 summit.
The West has already imposed unprecedented punitive measures against Russia, including large-scale trade restrictions. On Thursday, it became known that the G-7 also wants to restrict the export of rough diamonds from Russia, which are worth billions. A similar decision is scheduled for Hiroshima, several diplomats told dpa on Thursday.
The diamond trade is an important source of income for Russia. State diamond promoter Alrosa had revenues of 332 billion rubles (about 4 billion euros) in 2021 – the last year it disclosed its numbers. Russia is the largest producer of rough diamonds in the world.
To date, the European Union has not imposed restrictions on the diamond trade. One of the reasons so far has been resistance from Belgium. The EU member is one of the largest buyers of Russian diamonds, along with India and the United Arab Emirates. The Flemish port city of Antwerp has been considered the diamond center of the world since the 16th century. The United States of America is one of the most important buyers of finished products.
On the other hand, the United States, Canada and Great Britain had already imposed sanctions on Alrosa. According to the outgoing CEO of Alrosa, Sergey Ivanov, this didn’t hurt the group much. Recently, Ivanov has been optimistic that new sanctions will not take effect either.
China accuses the United States of „coercive measures”.
In addition to Great Britain and the United States of America, the G7 also includes Japan, Germany, France, Italy and Canada, as well as the European Union. Group deliberations are scheduled from Friday to Sunday. In addition to Russia’s war of aggression against Ukraine, the focus is also on dealing with China, its claims to power, and the difficult situation in the global economy.
In a press conference shortly before the start of the summit, EU Council President Charles Michel stressed the EU’s desire for good cooperation with China. According to Michel, the European Union wants to maintain stable and constructive cooperation with the country and at the same time calls on China to take seriously its role as a mediator: „We call on China to urge Russia to end its military aggression.” President of the European Council.
According to Japanese media reports, at the end of their deliberations, the G7 countries want to make a statement against „coercive economic measures” without explicitly naming China. US Treasury Secretary Janet Yellen had previously referred directly to China. She cited Australia and Lithuania as examples, where China has been hard pressed by political differences.
China rejected this in the run-up to the summit, and for its part made allegations against the United States. The Foreign Ministry in Beijing issued a report denouncing the United States as „the actual instigator of coercive diplomacy with a dark and shameful history”. The United States, for example, has accused other countries of using economic coercion and great power politics, but has the „copyright” to do so. This is „a standard tool in the US foreign policy toolbox”.
The report continues: „The United States is the inventor and master of coercive diplomacy.” They have used „various rogue means” such as unilateral sanctions, economic blockades, military threats, political isolation, and technical obstacles.
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