G7 leaders agree to impose ban on Russian diamonds in show of solidarity with Ukraine

United States President Joe Biden and leaders of the G7 countries on Wednesday (Dec 6) virtually met with Ukrainian President Volodymyr Zelensky and agreed to restrict imports of Russian diamonds from 2024 in a show of support.

"We will introduce import restrictions on non-industrial diamonds, mined, processed, or produced in Russia, by January 1, 2024," the leaders said after a virtual meeting with Zelensky.

This will be "followed by further phased restrictions on the import of Russian diamonds processed in third countries targeting March 1, 2024," they said.

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By the beginning of September, a "robust traceability-based verification and certification mechanism for rough diamonds within the G7" will be established, it added.

The new restrictions being imposed in a bid to tighten sanctions against Russia's invasion of Ukraine come as an addition to a series of other sanctions enforced by the United States on Moscow.

Zelensky calls for continued support for Ukraine

During the virtual meeting, Zelensky warned against the collapse of Western unity stating that Putin was expecting that to take place next year.

"Russia believes that America and Europe will show weakness and will not maintain support for Ukraine at the proper level. Putin believes that the free world will not fully enforce its own sanctions," he said, according to remarks posted to the president's website.

"The free world vitally needs to maintain its consolidation, maintain interaction, maintain support for those whose freedom is being attacked."

Earlier, the White House also warned that the US would run out of money for more Ukraine aid by the end of the year if Congress refuses to approve funds.

The G7 leaders addressed the issue of support for Kyiv in their statement, vowing that they would continue to back Ukraine.

"Our steadfast commitment to supporting Ukraine's fight for its independence, sovereignty, and territorial integrity will never waver," they said.

On the Israel-Hamas conflict, the leaders said that "more effective action" was required to limit the displacement ofcivilians, and also echoed support for more pauses in the fighting allowing more aid.

"More urgent action is needed to address the deteriorating humanitarian crisis in Gaza and minimize civilian casualties," they said.

(With inputs from agencies)