UK hits Russia with new sanctions

Written by on May 19, 2023

Britain unveiled new sanctions against Russia today, targeting imports of diamonds and other minerals in a bid to choke Moscow’s ability to fund the war in Ukraine.

Before a G7 summit in Japan began, London said it would introduce “a ban on Russian diamonds, copper, aluminum and nickel, and sanction more entities involved in Moscow’s “military industrial complex.

Russia’s diamond trade is estimated to be worth four to five billion dollars a year, netting the Kremlin much-needed tax revenues.

Later in the day, the UK foreign office said the new sanctions would freeze the assets of 86 people and organizations.

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