March 4, 2024
1 min read

Canada Targets Russian diamonds

This ban further builds on Canada’s December 2023 import restrictions on diamonds and diamond-jewellery-related products from Russia…reports Asian Lite News

Canadian Minister of Foreign Affairs Melanie Joly has said that Canada is imposing additional import restrictions on Russian diamonds.

This ban further builds on Canada’s December 2023 import restrictions on diamonds and diamond-jewellery-related products from Russia by targeting indirect imports of Russian diamonds weighing 1 carat and above, Joly said on Friday in a statement.

It is consistent with the commitments made in February, May and December 2023 by the G7 leaders to reduce the revenues from the export of non-industrial diamonds from Russia, she added as quoted by Xinhua news agency report.

According to the statement, Russia is the world’s largest rough diamond producer and also a significant global exporter of diamonds and diamond products.

The value of Russia’s total exports exceeded nearly 5.2 billion Canadian dollars ($3.8 billion) in 2022.

Together, G7 countries represent 70 per cent of the world diamond market, the statement added.

ALSO READ: Canada Chips in $130M for Ukraine

Previous Story

Kamala Harris calls out Israel over ‘catastrophe’ in Gaza

Next Story

Trudeau-Meloni Event Cancelled Amid Pro-Palestine Protests

Latest from -Top News

Pakistan Slams IWT Move as ‘Act of War’

Islamabad also said that India’s decision to suspend the Indus Waters Treaty (IWT) will be considered as an “act of war”…reports Asian Lite News The high-level emergency meeting of Pakistan’s National Security

Modi: We’ll Hunt Them Down

The Prime Minister thanked nations that extended support to India in the aftermath of the terror attack…reports Asian Lite News In his first address after the horrific terror attack in Pahalgam, Jammu

Moscow Steps Up Afghan Diplomacy

Russia sees a potential economic partner in the Taliban authorities, who praised Moscow for scrapping the “terrorism” label last week…reports Asian Lite News Russia has announced that it will elevate the Afghan

World leaders condemn Kashmir terror attack 

Strong messages of condemnation of the terror attack came from leaders in different parts of the world including the US, Russia, UAE, Israel, Singapore, France, Sri Lanka and Iran  World leaders strongly

India downgrades ties with Pakistan 

The decision — which also included the downgrading of diplomatic ties with Pakistan — came after a meeting of the Cabinet Committee on Security (CCS), chaired by the PM   India on
Go toTop

Don't Miss

Indian students being exploited in Canada for ‘cheap labour’

With 1.83 lakh Indian students pursuing education at various levels

Canada Imposes Two-Year Cap on New Study Permits for Int’l Students

The minister further said that from September, Canada will no