Although Russia's economy has not collapsed under Western sanctions, the European Union is preparing to unveil another round of sanctions, focusing on Moscow's diamond exports, potentially as early as next week. At the G7 foreign ministers' meeting in Japan, EU's top diplomat, Josep Borrell, told the Financial Times that the EU has secured enough backing from G7 countries on the new ban, as well as support from Belgium - one of the world's leading diamond traders. "In order for [EU] member states to be unanimous for the ban on diamond…
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