Eyes on Belgium as some EU states push for Russian diamond ban By Reuters

By Gabriela Baczynska and Philip Blenkinsop

BRUSSELS (Reuters) – The European Union should cease importing diamonds from Russia, 5 of the bloc’s 27 international locations mentioned in a joint proposal seen by Reuters, because the EU prepares new sanctions in opposition to Moscow for waging battle in opposition to Ukraine.

The EU, which has up to now applied six rounds of sanctions since Russia invaded Ukraine on Feb. 24, wants unanimity to agree any such ban that Belgium – residence to the world’s greatest diamond buying and selling hub Antwerp – has rejected prior to now.

The bloc was spurred into contemporary motion after President Vladimir Putin ordered a partial navy mobilisation final week and moved to annex components of jap Ukraine.

The EU’s government European Fee is predicted to current a proper proposal for extra sanctions to member states this week.

Poland, Eire, Lithuania, Estonia and Latvia proposed introducing a retaliatory ban on imports of diamonds from Russia, the place Alrosa is the world’s largest producer of tough gems.

The Antwerp World Diamond Centre mentioned sanctions would take away some 30% of enterprise and profit rival commerce hubs, including purchasers needs to be allowed to determine themselves in the event that they needed Russian gems.

Belgium’s overseas ministry and the diplomatic illustration to the EU didn’t reply to requests for remark.

However on Sept. 14, Prime Minister Alexander de Croo advised a global diamonds convention that such a ban can be a “enormous loss” and would harm an trade accounting for five% of Belgium’s exports and supporting some 30,000 jobs.

An EU official and a diplomat concerned in preparations of recent measures in opposition to Russia mentioned, nonetheless, that Belgium was now anticipated to elevate its veto.

Following the Fee’s proposal on new sanctions, diplomats and ministers will negotiate till they attain consensus, failing which the matter goes to the 27 nationwide leaders after they meet in Prague on Oct.6-7.