Belgium's prime minister said his country, which has the biggest interest in the global diamond trade in the European Union, is supporting a ban on Russian diamonds as part of sanctions targeting President Vladimir Putin's government for its war against Ukraine.
This came during Ukrainian President Volodymyr Zelenskyya's visit to Brussels on Wednesday. He has repeatedly asked for such a move since the start of Russia's invasion in February 2022.
For months, the Group of Seven advanced economies and the EU have been working on a way to trace and restrict the trade in Russian diamonds to prevent it from skirting the sanctions. Russia exports about $4 billion worth of rough diamonds a year, nearly a third of the world's total, according to various estimates.
Asked when the ban will enter into force, Belgian Prime Minister Alexander De Croo said, "the goal is ... January 1st of 2024."
According to The Antwerp World Diamond Centre, the world's most important diamond trading hub, 84 per cent of all rough diamonds mined worldwide are traded in the Belgian city, making it the most important gateway to the world for Russian diamonds.
"It has taken some time, because we want to avoid that diamond's ban would be circumvented," De Croo said, sitting next to Zelenskyy.
"If you only do it on the wholesale markets, then it will be traded to other diamond centers in the world," he added. "And we will still have it in our shops, and it would make no difference for Russia. This full traceability and this full banning on the retail markets is the only way to make sure that Russia is not financing the war anymore with those diamonds."
Diamond imports from Russia to the EU have not been hit by the 27-nation bloc's measures so far, which have hurt many sectors of the Russian economy, including the lucrative gas and oil.
In Belgium, the diamond sector accounts for 6,600 direct jobs and 26,000 indirect jobs, with annual trade amounting to 37 billion dollars. Diamonds represent about 5 per cent of total Belgian exports to the EU and 15 per cent outside the European bloc.
It's been exactly three years since Canadian Michael Kovrig returned to Canada after spending 1,019 days in a Chinese prison. Now, he's publicly speaking out about his arrest and detainment for the first time.
Cineplex Inc. has been ordered to pay a record $38.9 million fine after the Competition Tribunal found the theatre owner guilty of deceptive marketing practices.
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Police say a toddler in Cambridge, Ont., who was reported missing early Monday morning, has since died.
Israeli strikes on Lebanon Monday killed more than 490 people, including more than 90 women and children, Lebanese authorities said, in the deadliest barrage since the 2006 Israel-Hezbollah war.
On Sept. 20, Justice R.E. Nation of the Alberta Court of King's Bench found Craig McMorran guilty of fraud, money laundering and stealing a cottage from its rightful owners.
B.C.’s Civil Resolution Tribunal has ordered WestJet to refund a family in full for their diverted flight and compensate them for associated costs.
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On Sept. 20, Justice R.E. Nation of the Alberta Court of King's Bench found Craig McMorran guilty of fraud, money laundering and stealing a cottage from its rightful owners.
It's been exactly three years since Canadian Michael Kovrig returned to Canada after spending 1,019 days in a Chinese prison. Now, he's publicly speaking out about his arrest and detainment for the first time.
Ontario's police watchdog is investigating after a Durham officer discharged a Taser and an anti-riot weapon at a 15-year-old boy in north Oshawa on Sunday.
The City of Montreal has issued a lockdown notice for residents in the Mercier-Hochelaga-Maisonneuve borough due to smoke from a fire in a container storing 15,000 kilograms of lithium batteries in the Port of Montreal.
Authorities are investigating a report that violence erupted on a pickleball court in B.C.'s Lower Mainland over the weekend.
Police say a toddler in Cambridge, Ont., who was reported missing early Monday morning, has since died.
Malaysian police said Monday they have rescued 187 more children and raided locations nationwide linked to an Islamic business group that is being investigated for alleged sexual assault of children.
Israeli strikes on Lebanon Monday killed more than 490 people, including more than 90 women and children, Lebanese authorities said, in the deadliest barrage since the 2006 Israel-Hezbollah war.
Japan’s meteorological agency on Tuesday issued a tsunami advisory to a group of remote islands south of Tokyo after a strong earthquake.
A mentally ill man who killed 10 people at a Colorado supermarket in 2021 was convicted Monday of murder and faces life in prison.
A Soyuz capsule carrying two Russians and one American from the International Space Station landed Monday in Kazakhstan, ending a record-breaking stay for the Russian pair.
The man accused in the apparent assassination attempt of Donald Trump at a golf course in Florida left behind a note saying that he intended to kill the former president and maintained in his car a handwritten list of dates and venues where Trump was to appear, the U.S. Justice Department said Monday.
Following another byelection loss in a riding long considered a Liberal stronghold, coupled with the news another minister is quitting cabinet — and opting to sit as an independent MP — the weekly panel of political strategists on CTV's Question Period weighs in on the Liberals' political fortunes.
Justin Trudeau will turn his focus to the ongoing crises in Haiti as he speaks with some world leaders Monday ahead of the 78th meeting of the United Nations General Assembly.
House of Commons Speaker Greg Fergus gave MPs a stern warning on Monday about improving their behaviour as they prepare for a fractious debate about whether the Liberals should continue to govern.
Private nursing agencies could cost Canadian health-care facilities approximately $1.5 billion in 2023-24, according to a new report commissioned by the Canadian Federation of Nurses Unions.
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There are 'no restrictions' on the right to receive health services in Quebec for English speakers, according to a new clarification document issued by the Quebec Health Ministry on Monday.
A new analysis of dozens of arrowheads is helping researchers piece together a clearer portrait of the warriors who clashed on Europe’s oldest known battlefield 3,250 years ago.
Finally, an emoji to represent us all is coming soon: An exhausted face with bags under its eyes.
A Soyuz capsule carrying two Russians and one American from the International Space Station landed Monday in Kazakhstan, ending a record-breaking stay for the Russian pair.
Beverly Glenn-Copeland says he's been diagnosed with dementia and will play his final concert tour dates over the next two weeks.
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The Juno Awards are casting a spotlight on Canadian-made South Asian music as part of broader changes to the annual celebration.
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B.C.’s Civil Resolution Tribunal has ordered WestJet to refund a family in full for their diverted flight and compensate them for associated costs.
Canadian natural gas prices slumped to their lowest level in more than two years on Monday and are expected to remain under pressure for weeks.
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B.C.’s Civil Resolution Tribunal has ordered WestJet to refund a family in full for their diverted flight and compensate them for associated costs.
BC Conservative leader John Rustad dropped a major policy plan Sunday, pledging to eliminate supervised drug consumption sites across B.C. and replace them with intake centres for treatment and recovery.
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Monday marked the official start of Reconciliation Week in Lethbridge.
A Medicine Hat man faces charges after police say they found him in possession of drugs and a .22-calibre pen gun.
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A family dispute related to a property matter turned ugly over the weekend when a 71-year-old hit their head on the pavement after being pushed.
Police in Sault Ste. Marie charged a 36-year-old suspect with drug trafficking and other charges following a weekend raid of a residence on Robin Street.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
A 16-year-old biennial event aimed at fostering business in the country's eastern Arctic and northern regions has been cancelled indefinitely as a dispute unfolds between Inuit in Canada and a Labrador group claiming to share their heritage.
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