G7 leaders unanimously decide to enforce ban on Russian diamonds in support of Ukraine
- In Reports
- 01:33 PM, Dec 07, 2023
- Myind Staff
US President Joe Biden, along with leaders from the Group of Seven (G7) countries, held a virtual meeting, where they joined forces with Ukrainian President Volodymyr Zelenskiy in a display of solidarity. In a crucial decision, the leaders agreed to enact a new ban on Russian diamonds.
As outlined in a joint statement issued post-meeting, the measures involve the prohibition of non-industrial diamonds from Russia by January. Furthermore, a ban will be implemented on Russian diamonds sold by third countries starting in March.
Russia's Alrosa, the world's largest diamond-producing company, has declined to provide comments. Regarding the Israel-Hamas conflict in Gaza, the leaders emphasized the necessity for "more effective action" to mitigate the displacement of a large number of civilians. They also expressed support for additional ceasefires to facilitate the delivery of aid.
The leaders stated, "more immediate measures are required to address the escalating humanitarian crisis in Gaza and reduce civilian casualties." According to both Palestinian and Israeli authorities, Israeli forces have reportedly killed at least 16,016 Palestinians since the Hamas attack on October 7, resulting in the death of 1,200 people.
The United States is introducing new restrictions in an effort to strengthen sanctions against Russia's invasion of Ukraine. These measures supplement a series of other sanctions previously imposed by the United States on Moscow.
During the meeting, Zelenskiy appealed for ongoing support for Ukraine, expressing concern about Russia's perception. According to remarks posted on the president's website, he stated, "Russia believes that America and Europe will display weakness and fail to sustain support for Ukraine adequately. Putin is of the opinion that the free world will not rigorously enforce its own sanctions."
Zelenskiy emphasized the vital need for the free world to uphold unity, collaboration, and support for those facing threats to their freedom. The G7 members, including Japan, the United States, Canada, the United Kingdom, Germany, France, Italy, and the European Union, had committed in May to limit exports to Russia that could potentially finance its military operations in Ukraine.
Previously, the White House issued a warning, stating that the US would exhaust funds for additional Ukraine aid by the end of the year if Congress does not approve the necessary funds. In their statement, the G7 leaders addressed the issue of support for Kyiv, affirming their commitment to continue backing Ukraine.
Western nations acknowledge that the effectiveness of their one-year-old $60 price cap on Russian crude oil has diminished. In response, these countries are exploring strategies to reinforce the implementation of the cap.
Russian President Vladimir Putin engaged in talks with Crown Prince Mohammed bin Salman during his visit to Saudi Arabia. The discussions were anticipated to cover a range of topics, including the situation in Ukraine.
Image source: Reuters
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