EU set to impose sanctions on Russia's diamond industry

The European Union is working hard on sanctions against the Russian diamond industry.

European Council President Charles Michel made the statement at a press conference in the Indian capital, TASS reported.

"We are also working hard following a number of previous meetings [on sanctions] against the diamond industry," Michel said and emphasised that "more needs to be done" in this area.

The European Council chief added that EU countries are trying to prevent circumvention of the sanctions already imposed on Russia.

At the end of August, The New York Times wrote that the G7 member states and the European Union were planning to expand the existing sanctions against the Russian diamond sector. According to the newspaper's sources in diplomatic circles, they intend to ban the import of Russian diamonds in any form, meaning that not only rough diamonds, but also stones processed in India, Belgium, or other countries will be banned from entering the European and North American markets.