Government and Industry Meet on Russia Sanctions

US and European Union officials met with jewelry industry figures earlier this week to discuss potential restrictions on Russian diamonds.

James O’Brien, who heads the US’s Office of Sanctions Coordination, joined European Commission deputy director general and chief trade enforcement officer Denis Redonnet to conduct the talks, the US State Department said in a statement Monday. Participants included the US and European offices of diamond retailers, manufacturers, laboratories and industry trade associations.

“Russia continues to earn billions of dollars from the diamond trade, and the discussion centered on the most effective and impactful ways to disrupt that revenue stream,” the statement continued. “The United States and European Union remain committed to imposing economic consequences on Russia for its unprovoked war in Ukraine.”

Image: Rough diamonds ahead of polishing. (Alrosa)