EU defers ban on Russian diamonds by six months

A few other relaxations, like ring-fencing old stocks, announced by the European Commission, the executive arm of the EU, would give a further breather to the local diamantaires which constitute the world's largest importer of rough diamonds. According to a statement issued by the Commission on Monday, the ban on import of Russian diamonds would not extend to either rough or polished stones which were there in the EU and other countries (like India) before the beginning of the sanctions in March 2024.