Home World “Blood diamonds” of Russia came to the attention of Belgium

“Blood diamonds” of Russia came to the attention of Belgium

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“Blood diamonds” of Russia came to the attention of Belgium

Can the EU decide to impose a series of sanctions against Russia after her invasion UkraineTrue, one thing has not yet been “touched”: diamonds.

In particular, the Belgian government has not yet banned the import of Russian diamonds, which caused discontent both in Ukraine and a number of Europeans.

The Ukrainian side is pushing for a halt to imports of Russian diamonds, as trade in the rough enriches ALROSA, a business in which the state also participates, according to Politico.

While such an import freeze would not hurt the Russian economy as much as the fossil fuel economy, for example, the continued flow of Russian diamonds means that some Western countries are putting their national interests ahead of Ukraine’s.

The only one who disagrees with the government’s decision not to ban the import of Russian diamonds is Belgian Prime Minister Alexandre de Croix, who stressed that the time has come to end the bloody diamond trade between Russia and the West.

“Russian diamonds are blood diamonds,” de Croix told POLITICO magazine. “Russia’s income from diamonds can stop only if the access of Russian diamonds to Western markets becomes impossible. In building this stable front, Belgium is working with its partners.”

Antwerp’s gemstone business has been hit hard as Russian rough diamonds often end up being cut and polished in the West, significantly reducing Belgium’s revenues.

Therefore, Belgium is working with partners to implement a “diamond tracking system,” according to a Belgian official.

If this plan worked, it could hurt Moscow more than if Washington or Brussels acted alone.

“Europe and North America together account for 70% of the world natural diamond market,” the prime minister said. “By building on this market power, we can bring much-needed transparency to the global diamond sector and keep blood diamonds out of the global market. The war in Ukraine gives a powerful impetus.”

These statements come just as the EU is preparing a new round of sanctions against Russia shortly before the anniversary of the invasion.

Countries such as Poland and Lithuania are calling on the European Union to include diamonds on the sanctions list.

The European diplomat noted that the Belgian prime minister is leading a coalition of seven ideologically different parties. Socialists insist that he lobbied for the introduction of restrictions on the diamond market in the new EU sanctions list.

But such pressure will not necessarily lead to a ban on diamond imports, four representatives of other Belgian parties said.

Even if all seven parties agree to mine Russian diamonds, there will be another key hurdle as the Belgian political system is complex and all regional governments have a say. However, the government of the northern region of Flanders opposes the import ban.

Belgium hopes it can stop obstructing the creation of an international coalition to trace Russian blood diamonds, as the benefits for the country will be significant.

Author: newsroom

Source: Kathimerini

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