• UGI USER
  • Apr 11, 2024
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INDIA RAISES CONCERNS OVER EUROPEAN SANCTIONS IMPACTING RUSSIAN DIAMOND IMPORTS.

Why in the news?

Indian diamond exporters seek solutions as new EU-G7 sanctions cause losses and delays, similar to debates over Russian oil sanctions.

source:substack

Highlights of the Issue:

  • Indian diamond exporters face losses and delays due to new EU-G7 sanctions, similar to Russian oil sanctions.
  • Concerns raised with the Belgian delegation, a major source of India’s diamond imports.
  • Belgian Foreign Secretary Theodora Gentzis met External Affairs Minister S. Jaishankar and Commerce Secretary Sunil Barthwal.
  • Second India-Belgian Foreign Office Consultations (FOC) held, emphasising economic cooperation.
What is G7 ?

  • The G7, or Group of Seven, comprises the world’s seven most advanced economies according to the IMF.
  • Its member countries include Canada, USA, UK, France, Germany, Japan, and Italy.
  • G7 discussions often revolve around economic policies, global challenges, and international cooperation.

source:https://www.thehindu.com/news/international/after-russian-oil-india-raises-sanctions-over-russian-diamonds-with-europe/article68051504.ece#:~:text=The%20issue%2C%20which%20could%20prove,%2D10)%2C%20who%20met%20with