russia could lose $4.5 billion per year due to diamond embargo
However, an efficient system for their tracking must be built
russia could lose $4.5 billion per year due to a diamond embargo.
This is reported by Roksolana Pidlasa, Head of the Verkhovna Rada Committee on budget issues.
The MP explains that diamond sales are one of the largest items of non-energy exports of russia. The aggressor earns about $1.5 billion from selling the precious mineral to EU countries, the UK, and the US.
"Last week, the UK, EU, and G7 countries announced sanctions on russian diamonds, but the world needs an effective system for tracing the origins of diamonds," added Pidlasa.
Background. Mind previously reported that the G7 countries were preparing new sanctions against russian diamonds. In India, about 3 million people could lose their jobs.
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