G7 Summit: Zelensky attends and more sanctions on Russia

RUSSIA / FSU POLITICS - In Brief 20 May 2023 by Alex Teddy
On May 19 the Group of the seven most industrialized economies met in Japan. The sanctions will hit Russian diamonds. Russia sells at least USD 4 billion in diamonds each year.  The G7 will probably not ban the purchase of all Russian diamonds. Belgium is a major buyer, with Antwerp's being one of the world's major diamond markets. The UAE and India will buy most Russian diamonds. They are not in the G7. The G7 wants to stop Russia from being able to evade sanctions. It will take action against international partners of Russia that expedite such evasion. The US has listed over 70 entities for its blacklist and hopes the other G7 nations will follow suit. The US is also sanctioning 300 people, ships and planes. The ships and planes are thought to belong to individuals or entities that are sanctions busting.  Zelensky has arrived as a guest of the G7 in a plane lent by France. No Ukrainian president has ever attended the G7. The United Kingdom has already banned Russian diamonds. The UK will also stop importing Russian copper, nickel and alumunium. This will hurt an already struggling British economy. The G7 is adopting new high tech means of ascertaining a diamond's origin. Otherwise Russian diamonds could be mislabeled as coming from somewhere else. The G7 invited the leaders of India and Brazil. But there is no sign that they will sanction Russia. They are enjoying cheap oil and gas from Russia. Japan is hosting the G7 in Hiroshima: the site of the world's first atomic bombing. The Japanese want to see nuclear disarmament. The Ukraine War has raised nuclear tensions.  The G7 are also discussing China. Will China try to retake Taiwan? If so, what should be done with it?

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