EU prepares to impose sanctions on Russian diamonds

European Union (EU) Council President Charles Michel said that they will close the legal loopholes in the sanctions and restrict the diamond trade with Russia. European Union (EU) Council President Charles Michel made a statement to the press ahead of the G7 Leaders Summit in Hiroshima, Japan. "We will continue to provide strong military, political, humanitarian and financial support to Ukraine," Michel said, noting that the EU and its member countries have provided over 70 billion euros in aid to Ukraine so far. Pointing out that the EU has taken comprehensive steps with sanctions packages to hinder Russia, Michel said, "We are now focused on closing the legal loopholes in the sanctions." Explaining that they continue to prevent Russia from accessing critical materials, Michel emphasized that they will take new measures. Michel, who said, "We will restrict the trade in Russian diamonds," said that they will clearly state why sanctions against Russia are necessary and justified at the G7 summit. Pointing out that relations with China will also be discussed at the meeting, Michel said, "A stable and constructive relationship with China is in our mutual interest." Michel, who emphasized that the EU is determined to protect its values and interests, said, "We do not want to separate, but we want to reduce our excessive dependencies and reduce risk." Michel added that they should also address China's unfair practices and rebalance trade relations. The summit, hosted by Japanese Prime Minister Kishida Fumio, is being attended by the leaders of the US, France, England, Germany, Canada and Italy. In addition to the G7 countries, the EU, Indonesia, India, South Korea, Australia and Vietnam are also invited to the summit.