Belgium has opted to postpone the imposition of sanctions on Russian diamond exports until the beginning of 2024. This, according to a report by Rough & Polished citing TASS and a statement from Belgian Prime Minister Alexander De Croo.
According to De Croo, a ban on diamond imports can only be considered when there is a reliable mechanism for tracing their origin. Currently, such a mechanism is not in place, with its introduction set for January 1, 2024. De Croo emphasized that if Belgium acts alone in imposing this ban, Russian diamonds may simply find their way to other markets.
In contrast, some EU and G7 countries, including the UK, Germany, Italy, Canada, France, Japan, and the USA, announced their ban on diamond exports in May 2023.
