India Still Fighting G7 Sanctions
April 08, 24
(IDEX Online) - The G7 sanctions on Russian diamonds will hurt India most, says the country's external affairs minister, Subrahmanyam Jaishankar (pictured).
"Our effort is to delay [this ban], to soften it and best of all, not let this happen at all," he told young business leaders in Surat last week.
"For us this has become a priority issue, and we will try to find a solution in the coming days."
He said consumers will be affected in the G7 countries, including the EU, but in India hundreds of thousands of jobs depend on Russian goods.
India's prime minister Narendra Modi spoken has spoken to his Belgian counterpart Alexander de Croo, who currently holds the rotating EU presidency, about the sanctions, and Union commerce minister Piyush Goyal will follow the matter up.
Sanctions on Russian diamonds of one carat or above, were implemented on 1 March, and cover all goods, regardless of they are cut and polished.
Previous US restrictions allowed the import of Russian goods that had been processed elsewhere.