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G7's sanctions on Russian diamonds will hit India hard: S Jaishankar



The Indian government has taken up on priority the issue of ban on imports of Russian-origin unpolished diamonds by the European Union (EU) and G7 nations as the measure will end up hurting the domestic diamond polishing industry mainly centred in Gujarat's Surat city, said External Affairs Minister S Jaishankar.


The initial stage of an EU and G7 ban on imports of Russia-origin diamonds via third countries came into effect in early March, a step taken as part of sanctions on Moscow in response to its invasion of Ukraine.


"Our effort is to delay (the initial stage of ban), soften it, and best of all, not let this happen at all. For us, this has become a priority issue, and we will try to find out a solution in coming days," S Jaishankar said.


Jaishankar underscored the urgency of the issue for India, emphasizing that hundreds of thousands of jobs in the country rely on Russian goods. He highlighted the potential repercussions for consumers in G7 nations, including the EU, while stressing India's significant stake in the matter.




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