Moscow intends to “circumvent” the new European sanctions

After the adoption of a new set of sanctions against Moscow by the EU, the Kremlin warned on Tuesday, December 19, that Russia would “get around” new European measures on the lucrative diamond trade, which the Union sees as a source of financing for its offensive in Ukraine.

These measures ban the import of natural or synthetic diamonds and jewelry from January, as well as Russian diamonds cut in other countries from September 2024. Kremlin spokesperson Dmitry Peskov said the ban was “predictable”and that the sector was there “prepared”. “I think there are possibilities to circumvent these sanctions. There are some, and they will be implemented (…) to guarantee our interests”he added.

President Vladimir Putin regularly insists that these sanctions fail to bring Russia’s economy to its knees, pointing to GDP growth. But inflation is high, and the State with its military orders supports industry, while the country faces labor shortages with the sending of hundreds of thousands of men to the front and quantity others having fled the country.