European Union countries have agreed to a 12th sanctions package against Russia, moving to ban the import of Russian diamonds among other measures, the European Council announced in a statement on Dec. 14.
"The European Council welcomes the adoption of the 12th package of sanctions," the statements reads.
The measure will take effect Jan. 1 and include a ban on Russian diamond imports, as well as a phased ban on diamond imports from third countries beginning in March, in alignment with Group of Seven (G7) nations.
Additional measures include strengthening the evidence needed for companies who claim to adhere with the G7 Russian oil price cap. The package also includes steps to stop Russia from getting hold of dual-use technologies, meaning companies dealing with certain products will need to ensure partners sign contracts preventing them from reselling goods to Russia.
EU nations previously agreed to the new sanctions package on Dec. 13, with the exception of Austria, who claimed it needed time to conduct a final legal examination of the package before giving its approval.
According to Reuters, sources familiar with the matter claimed that Austria had been attempting to have Raiffeisen Bank International, the biggest Western bank in Russia, removed from a Ukrainian blacklist as a condition for signing off on new European Union sanctions against Russia.
Raiffeisen Bank International continues to appear on Ukraine's blacklist.
