UK to prohibit exports of Russian diamonds from 2024 — Foreign Office

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LONDON: The United Kingdom will impose a ban on imports of diamonds from Russia beginning from January 1, 2024, the UK Foreign, Commonwealth and Development office said in a statement.

"The UK government is introducing separate legislation to ban the import of diamonds from Russia and plans to proceed with a prohibition on ancillary services relating to metals when this can be done in concert with international partners," the statement says.

The ban will come into force on January 1, 2024. Besides, London also prohibited exports of certain goods "that carry a risk of military or industrial usage," including machine parts and electronics.

In all, the United Kingdom blacklisted over 1,800 Russian individuals and companies since the start of the special military operation in Ukraine. This includes 29 banks, who together account for 90% of the Russian banking sector.

The UK Foreign Office believes that sanctions caused imports to the UK from Russia to fall by 94% in 2022, while UK exports to Russia plunged by 74% compared to 2021.

-News Feed