Iran Press/ Europe: Britain unveiled new sanctions against Russia's minerals sector Friday, targeting imports of aluminium, diamonds, copper and nickel in a bid to curb Moscow's ability to fund the military expenditure in Ukraine.
Ahead of a G7 summit in Hiroshima, Japan, London said it would introduce a sanction targeting on Russian diamonds and target more entities involved in its military industrial complex.
Russia's diamond trade is estimated to be worth $4-5 billion a year, netting the Kremlin much-needed tax revenues.
The summit in Hiroshima is expected to bring a series of new sanctions on Russia, including US measures that will put 70 more Russian and foreign entities on a trade blacklist.
The G7 as a whole is expected to work to tighten existing sanctions, close loopholes, squeeze Moscow’s access to the international financial system and commit to keeping Russian assets frozen until the end of the war in Ukraine. 219
