Britain bans Russian diamonds

The United Kingdom has announced a ban on importing of Russian diamonds and several types of metal, as well as additional sanctions on 86 people and companies allegedly linked to Moscow’s “military industrial complex.” The move builds on existing UK sanctions, which previously targeted Alrosa, a Russian state-run mining company, and hiked tariffs on diamond imports by 35%. The UK has also blacklisted more than 1,500 individuals and entities, frozen over $22 billion in Russian-owned assets, and restricted more than $24 billion in bilateral trade. European Council President Charles Michel said the EU would also target the Russian diamond trade. Officials in Moscow have maintained that restrictions are part of the “hybrid war” unleashed by the West against Russia, and President Vladimir Putin said last year that although the sanctions had hurt the country, the “economic blitzkrieg has failed.”