The Council of the European Union has approved a 12th package of punitive measures against Russia, the European Commission said in a statement on Monday.
The package focuses on a diamond import ban as well as imposing additional import and export bans on Russia, combating sanctions circumvention and closing loopholes, the Reuters news agency reported.
The ban on direct non-industrial diamond purchases from Russia will take effect on January 1, followed by a phased ban on indirect imports from September 1.
The EU executive said the "import restrictions on non-industrial diamonds, mined, processed, or produced, in Russia" are part of "an internationally coordinated G7 diamond ban, aiming to deprive Russia of this important revenue stream estimated at EUR 4 billion per year."
The package also introduces a new import ban on liquefied petroleum gas (LPG), with a one-year transition period.
The bloc has sanctioned an additional 61 individuals and 86 entities in response to Russia’s war of aggression against Ukraine, officials also announced.
'We continue to stand with Ukraine, through thick and thin'
EU chief executive Ursula von der Leyen welcomed "the political agreement on the 12th sanctions package" and declared that the bloc would "continue to stand with Ukraine, through thick and thin."
"We are clamping down hard on circumvention and sanctioning more goods, including diamonds," she added.
Russia invaded Ukraine on February 24, 2022, launching the largest military campaign in Europe since World War II.
Monday is day 663 of Russia’s war on Ukraine.
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Source: PAP, ec.europa.eu