In new round of sanctions, UK bans Russian diamonds ahead of G7 meeting

London: In a fresh round of sanctions, Britain has announced sanctions on the military-industrial complex and metals as well as Russian diamonds amid the ongoing Ukraine war. An industry worth USD4 billion in exports in 2021, the diamond ban comes amid the ongoing Russia-Ukraine war. The UK government said in a statement on Thursday that it has also announced a ban on imports of copper, aluminum and nickel of Russian origin.

Along with these trade sanctions, Britain is preparing to target an additional 86 members of Putin’s military-industrial complex as well as those engaged in key industries including energy, metals and shipping, the statement said.

As the UK continues to engage with G7 allies to prevent sanctions of all kinds, including those that actively help the Kremlin in its efforts to undermine the effect of current sanctions. As he meets with G7 leaders in Hiroshima, Prime Minister Rishi Sunak will also issue a warning against complacency under the protection of the UK government, “against our ideals and against autocratic governments.”

It says Britain has imposed the toughest sanctions ever on a vital economy, in a bid to hinder Russia’s war effort. The UK government’s official statement said: “So far we have approved the freezing of assets worth more than £18 billion in the UK for more than 1,500 individuals and entities and over £20 billion of UK-Russia goods trade. “

Along with other G7 leaders, the prime minister is set to visit the A-bomb dome site at Hiroshima Peace Park before participating in discussions on global cooperation, Ukraine, Indo-Pacific security policy and the G7’s response to nuclear non-proliferation.

“He will urge the international community to stay the course on Ukraine, ensuring it receives the diplomatic, military and economic support it needs in the interest of international peace and security,” the government statement said.

In his meeting with President Zelensky on Monday, the prime minister confirmed the increase in military aid and stressed the importance of long-term international support for Ukraine, particularly for the country’s future in NATO. This announcement was made after that meeting. The leaders talked about Ukraine’s path to a stronger political alliance and greater cooperation with G7 and NATO members.

Recently, Russia has significantly increased the number of missile attacks against Ukraine, but it also seems that Ukraine is firing more Russian missiles.

More US approval to follow

Meanwhile, the United States will unveil new sanctions “to comprehensively restrict Russia’s access to goods critical to its battlefield capabilities,” a US official said on Friday ahead of the G7 summit in Japan. . The United States is apparently planning to blacklist nearly 70 companies and organizations for selling banned American products to Russia.

“We will continue to expand export controls to make it even more difficult for Russia to maintain its war machine. This includes, among other things, comprehensively restricting categories of goods for the battlefield, and restricting trade between Russia and third Including cutting off about 70 entities from countries. Getting US exports by adding them to the commerce blacklist,” the official said.