Russian diamond, caviar on latest EU blacklist

EU is aiming to strike at Russia's oil, steel, and forestry industries in its latest sanctions, new proposals say.

It's also set to hit Russian diamond-mining giant Alrosa, but spare the rest of the diamond sector, while banning imports of caviar, vodka, and cigarettes, according to EUobserver.

The EU Commission and foreign service put forward the ideas on Wednesday (September 28) in reaction to Russia's plan to annex parts of eastern Ukraine.

There is to be a blanket ban on imports of Russian steel, from industrial rolls to "sewing needles", and on all forestry products, including wood, pulp and paper, as part of an EU trade embargo worth €7 billion.

This includes Russian shellfish, caviar, spirits, cigarettes, and cosmetics.

Russia's diamond sector was mostly spared, but Russian diamond-mining giant Alrosa should be put on an asset-freeze and financial transaction blacklist, the commission proposed.

The Commission proposals were designed to please all 27 EU capitals, following consultations last weekend.

EU ambassadors will discuss the final decision on Friday, the same day Putin is due to annexing Ukrainian territories, and details of the new sanctions are still subject to change.