“Canada has been at the forefront of imposing economic barriers on the Putin Regime since he launched his brutal full-scale illegal invasion of Ukraine, which caused devastating losses to Ukrainians. Along with our allies and partners, we have imposed severe sanctions on the Russian regime, and we will continue to do so to hold Putin and his enablers to account,” said Canada’s Minister of Foreign Affairs, Mélanie Joly.
Russia is the world’s largest rough diamond producer, with its production valued at more than approximately $4.7 billion in 2022. It is also a significant global exporter of diamonds and diamond products, with the value of its total exports exceeding approximately $5.2 billion in the same year.
Together, G7 countries represent 70% of the world diamond market.
Read More: Diamond producers warn of pitfalls in G7’s Russia gem ban
Following Russia’s full-scale invasion of Ukraine in 2022, Canada…
