Will the EU's latest sanctions actually hurt Russia? | DW Business

A new year and a new round of EU sanctions against Russia. Brussels is hoping to hit the Russian economy through targeted restrictions on its diamond and aluminium industries, as well as assets freezes and export bans. To talk through the measures and their potential effect, we're joined by Jacob Kirkegaard from German Marshall Fund of the United States, based in Brussels.
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#Russia #Ukraine #EU

[@winsonip4447]

India and China are home to the world's largest diamond cutting centers, while Tel Aviv and Dubai serve as trading hubs. The origins of rough stones are often untraceable, making it easy to attribute their origin to anywhere from Russia to other regions.

[@xiphoid2011]

I think most people have learned that diamond is a scam. That piece of carbon is worth almost nothing. Try sell your diamond ring and see. Being chinese, you see that most people are buying gold, not diamond.

[@Funktastico]

not belgium ?

[@amadeuz8161]

Even if they go through China or India then the profit for Russia will be lower. Like the profits goes to China and India, not Russia and then Russia gets even more Indian rupees that they have no use of :D

[@timmy-wj2hc]

Just like Russian oil and Gas. US Europawns will use India and others as middlemen and buy it at higher prices.😂😂😂😂

[@ericp1139]

@@amadeuz8161oh yes, and the ruble will finally be rubble?

[@chiztruth21]

Soon Sholz will say Russia cut off the supply of diamonds to Germany😒

[@JG-mp5nb]

Perhaps Putler is weaponizing diamonds the way he weaponizes gas supplies?

[@Ex-Muslim334]

​@@JG-mp5nb who is pulter?

[@TheTruthHz]

​@@Ex-Muslim334you know... vladof vladolfovich pootler, the bunker grandpa, the prime dictator of the terrorist state of ruSSia.

[@jt-ttt]

​@@JG-mp5nb just like usa weaponlized dollars and chips.

[@renekuipers4563]

To negative to him..Not his foult that the economy goes wrong..

[@eastern2western]

Once a diamond is polished and cutted, no one can tell the differrnce.

[@peabase]

*Cut is the past participle, not cutted. Kimberley Process Certification Scheme. Read all about it. Hint: you may want to delete your comment to avoid further embarrassment.

[@berkesattila5914]

Except magical western experts...

[@ayushkumar-bg1xf]

@@peabaseu can’t implement certifications on Indian house wife’s who cut most of global diamonds, you ban one house wife there are 700 million other

[@timothypeterson1903]

So they can now buy them from India and China instead of directly from Russia.

[@sambassil7825]

India and China are enemies let them go at it, they’re no friends of ours anyway.

[@sambassil7825]

India and China are enemies let them go at it, they’re no friends of ours anyway.

[@squireson]

Still reduces Russias profits, Indian resellers will take a cut.

[@peabase]

You need to read up on the Kimberly Process. Reputable dealers and exchanges will steer clear of Russian diamonds for fear of being sanctioned themselves. The system isn't watertight, and while it may allow an African warlord to arm his warriors, the pickings will be slim for Russia.

[@denisgorjunov304]

@@squireson no. The price will just be higher for EU.

[@sportszone9159]

That's why India build biggest office for Russian diamond

[@mannidennis1031]

lol like their gas and oil, the Russians will NOT be getting premium payments from the Indians, Chinese or any other nation that isn’t a 1world country. So what’s your point?

[@nidheeshkumar6760]

Lol😂 that plan was 5 years old to build office that place is refining diamonds from past 1000 years are more

[@peabase]

They still have no business selling their cuts to Western markets.

[@ericp1139]

Host: are sanctions working? Guest: depends on what “is” is

[@jhngfdsdfgkjnbv]

They work but only in the opposite direction)))

[@milanko91]

Of course they work, look on their budgets, keep in mind a Lot is transformed to War infustry

[@robm805]

Will they ban items from israel and the US

[@Sheppardsg1]

No double standarts

[@samanthaw4955]

EU hypocrites won’t, although we all know they should if their moral compass works….which it doesn’t.

[@mauriciofernandes9856]

All this sanction it's a joke 😂😂😂😂😂

[@pointgreece4331]

EU can live without diamonds from Russia the same way Russia can live without Zara and HM.

[@wokeaf1337]

Sure but it's not about that, it is about reducing the total revenue of Russia which can be invested into military. The cash Russia receives from within Russia doesnt matter, it is about trades of Russia with foreign customers.

[@167mm167]

ha ha ...

[@gugulethuzangwa8358]

problem is the Russian diamonds will go to india, they return to europe

[@op-tim_auto]

@@gugulethuzangwa8358 yes, but way more expensive dont you think?

[@JG-mp5nb]

@@167mm167Or Russia can make do without commercial aircraft or aircraft parts. One can always fly in a Russian manufactured aircraft, no?

[@trideep220280]

The blame India game begins. Why doesn't Europe stop buying Diamonds altogether and Return India's stolen diamonds😅

[@brownmold]

I thought the Moghul's were Persian...

[@jirachi-wishmaker9242]

​@@brownmoldFrom Jahangir, every single Emperor is Half Indian

[@svanimation8969]

@@brownmold they steal it from dalip Singh

[@Os_man8903]

Another game changing move!

[@ankpms830]

😅😅😅😅

[@D-E-S_8559]

Sanctioning Russian Diamonds and Aluminium, ALL boils down to African Diamonds, Bauxite and Gallium, where the West is now comfortable to expose it's choke-hold on, and In this case, Africa and the Caribbean axis, Jamaica is the worlds leading Bauxite producer for Aluminium but they barely or never talk about it's Gallium production for Semiconductors, because that is the trickery of "raw material" exploitative economies. They hope, pray and ensure you don't learn the Periodic Table....

[@westbenchmancave]

The real housewives of Paris, London, Berlin and Brussels are going to be pissed………

[@darkmatter5424]

Imagine that, Russia has the biggest diamond reserve in the world. 😅

[@user-bi4nm5zp7f]

Look how happy he is with this conclusion😂

[@TheRealBillBob]

He won't be when he finds out how much his girl's engagement ring will cost.

[@M.Stolic]

I wanted to watch the absurd humor, but still decided to watch DW. Maybe we should stop discussing Russia, it has beaten all of you.

[@Genesis95-]

We gotta make people BELIEVE these sanctions are working 😂😂😂😂

[@sparky7915]

Russia's income has been reduced by about 73%. So the sanctions are working. Putin is not giving up. He will continue to keep putting Russia deeper into debt. He is gambling he can win in Ukraine. Hence he has purchased lots of ammunition and is producing lots of military equipment like tanks. But he is running out of soldiers. There is a limit to how many soldiers he can get to replace the ones he lost in the war.

[@moffig1]

Russian bot

[@klausschwabWEF427]

No just like the earlier sanctions only hurt Europe

[@alma09876]

Will it hurt Russia? Answer is NO.

[@peabase]

The coping is strong with you.

[@alexandrufasoleac627]

Economist Alma straight from Kremlin's office! Hmm, i should believe Alma09876? HMMMMM

[@privacyhelp]

most european people cant afford diamonds

[@AlchemyOfDeathBand]

without even watching, I can answer confidently: NO.

[@aldovk6681]

No, next question

[@DeeSmith001]

Belgium is the only big player in Europe. India and the UAE are still buying, so the long term effects will be minimal.

[@aposteriori421]

Europeans really missing out 😂

[@evehawasinare228]

The ban on Russian diamond will shift the diamond industry market from Belgium to the near and far East Asia.

[@pyrophobia133]

so basically, EU is committing suicide

[@Madrid.9395]

My thoughts exactly 💯 Just as buyers of Russian Crude oil no longer go to London to get Insurance for their Oil Cargoes, and as a result the UK has lost its near monopoly of insuring Oil Cargoes to new entrants in Russia, India, China and other countries in Asia.

[@savagesurpreme7856]

No true it would actually switch it to lab diamonds and African countries

[@chopinmack5418]

The US keeps on asking EU countries to sanction Russia , whereas they keep on increasing purchases of Nuclear Fuel & Oil directly from Russia . And Germany has to buy Russian Oil from middlemen from the US & India due to such sanctions ????

[@topweddingsa4059]

Failing sanctions..... 50 Countries VS 1 Country

[@Xatiko540]

Sanctions are not laws!!!!!!!!

[@indikamudalige8682]

They just created a huge demand for russian diamond 😅😅

[@kaiTMS]

Where’s the EU sanctions on Israel?

[@anacc3257]

Not the same. Israel vs. Hamas and Russia vs. Ukraine. Ukraine isn't comparable to hamas and hasn't hurt or provoked anyone. Russia attacked them anyway

[@freedomfighters668]

Sanctions are tools of the west to punish disobedient countries. Sanctions are only meant for selected nations. Israel is friend. Even if it’s doing the same thing it’s not considered in safe zone .

[@dimamatat5548]

There is no need to import diamonds when you can grow them in labs much cheaper.

[@aphroditeroboy8662]

Diamonds need to be polished and cut before even selling so how these sanction affect Russia? Anyone can buy raw uncut diamond from Russia and resell to EU countries after polishing and mislabel it as african diamond

[@shubhankar5355]

Did this guy just say that China is a 3rd world country?

[@simonfarrugia26]

No. You think people who buy diamonds don't have the means to bypass the sanctions 🤣

[@IamYourMaster1]

BS They had to go 12 times to achieve absolutely nothing. How embarrassing

[@martinfiedler4317]

Wait what? The EU is banning Russian diamonds(!) only NOW? Why? Are diamonds so essential for the EU that it wanted to wait before taking such an "extreme" measure???

[@dunerv]

It is a sign of madness to keep doing something over and over again, when it obviously doesn't work!

[@wildewille20]

You mean like Storm Z?

[@John4Ger]

Only it does work.

[@amirishere]

Oh it does work. Diamond is actually very common. So why should Russia get the money when some other country can?

[@johnproton259]

It's a sign of intelligence to keep doing something when it is very clearly working.

[@psnaris]

@@johnproton259 It is if you are trying to destroy your own economies.

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank 😊

[@andypickett1]

The Antwerp diamond marketeers are the ones who have been pushing back on a ban on Russian diamonds since the Ukraine war began. They didn't want to lose their market share to other world markets. It's all about the money!

[@Pmooli]

Wait and see most of Africa go to war, especially those with diamonds.

[@petertiang71]

Of course it is about money. You expecting to go broke supporting a useless proxy war ?

[@xiphoid2011]

boohoo. Diamond is actually pretty worthless. I think most financialy responsible people are not wasting money on diamond any more. If you want buy valuable material, buy gold, not a piece of carbon.

[@georgeakomeah7229]

They are thinking about their survival,that is the key principle of survival. Not because some entity is saying do this or that and without thinking about the consequences, you just go ahead implementing them.

[@Liboch]

​@@xiphoid2011diamond is important as cutting tools in many industrial applications. Industrial diamonds accounted for about 80% of the natural diamond production, only 20% for gem.

Who tf cares about diamonds? People who buy that stuff have enough money to go to Russia and buy it there anyway...

[@libshastra]

I thank EU for providing India with more business opportunities. Russian diamonds will be bought from the Diamind Bourse at Western India just like Russian Diesel 🥲

[@festekj]

@@alloutofbubblegum7271considering all the corruption in the world ,

[@robertsanders7060]

India's lack of morality should not make the rest of the world behave in immoral and evil ways.

[@adoukoffi7061]

I totally agreed with you as Europe is damaging its own economy 🤣🤣🤣

[@anacc3257]

@@adoukoffi7061 EU is trying to penalize an occupying force headed by a war criminal. What is India and all of these other countries doing other than turning the other way?

[@mariobarriga3093]

@@anacc3257perhaps the rest of the world isnt seeing the actions of Russia like that anymore

[@jpavlvs]

DeBeers must be jumping up and down in joy.

[@larryconstantine1404]

😂😂😂😂😂😂🎉😂😂😂😂 in other words the west has lost

[@cristinaximera9663]

Oh Dear!

[@freeforester1717]

As if this will in any way help EU industry, much less harm Russia😂

[@peabase]

You've got it backwards. It will harm Russia's industry, which is in war economy mode. For a large part, its orders come from Russia's ministry of defence, which gets its funding from taxes. Tax revenue is drying up, and so are the orders.

[@JG-mp5nb]

Excellent news. Diamonds can be found in many places, particularly in factories where they are now manufactured.

[@joem0088]

Russian diamonds will go to India for polishing and eventually arrive all over the world, EU not excluded.

[@zawiszaczarny7876]

Germany is largely bypassing the sanctions, exports to CIS countries has risen by 900% after the sanctions were introduced, same with France that still supply Russia with electronics and optics, just relabeled these as "sport gear". USA firms also basicly did not move an inch from Russia. Do not delude pepole with this utter rubbish.

[@gaborrajnai6213]

Yep, if someone read Adam Smith, the founder of modern economics as he is called, he starts his book by seeking answer why scottish smugglers risking their lives to smuggle in grain from Napoleonic France, and gets to a conclusion that if a country needs a resource, then there will always be someone to supply it in the cheapest possible price. But I guess economic experts at the Marshall fund didnt read it.

[@AnwarAlam-fb9ch]

EU should look it's own economy which will go further down than Russia.

[@Raumweiter]

Bs

[@marilenaganea6578]

😂😂😂😂😂 Russia with 140+ mln population, with a territory double+ than the whole Europe has an economy smaller than Italy.

[@nbell5050]

@@marilenaganea6578 keep thinking that. They also ran out of weapons last year and they blew up their own pipeline cause you know.

[@she825]

​@@marilenaganea6578 And the media told you that right😂😂

[@marilenaganea6578]

@@she825 you didn't yet discovered how to do a Google search?

[@ufereokeaso5560]

How much more foolish can the European union be.

[@Sheppardsg1]

As long us dictate them

[@louistan7560]

Big deal. That's according to Ursula. What's next? Looks like she is scraping the bottom of the barrel.

[@zakaryamamouni6078]

this show how desperate EU is, they lost the battle already, it's only a matter of time where they comeback for forgiveness or be forced to entre a bigger war that will be nuclear for sure.

[@D-E-S_8559]

Sanctioning Russian Diamonds and Aluminium, ALL boils down to African Diamonds, Bauxite and Gallium, where the West is now comfortable to expose it's choke-hold on, and In this case, Africa and the Caribbean axis, Jamaica is the worlds leading Bauxite producer for Aluminium but they barely or never talk about it's Gallium production for Semiconductors, because that is the trickery of "raw material" exploitative economies. They hope, pray and ensure you don't learn the Periodic Table.

[@leo13.]

No sanctions can hurt em..

[@felipe-vibor]

The sanctions are basically against Belgium and Switzerland

[@radcliffewilliams2221]

Try sanctioning nuclear reactor materials.The majority of which is purchased by USA from Russia 😅😅😅

[@louisecorchevolle9241]

the diamonds are transformed in India like the russian gas

[@svanimation8969]

India already cut worlds 70% diamond's we are largest finished cut diamonds in the world 😋 even before all this ! At start it will hurt India but eventually it will benefit India ! And GET more discount from Russia 😂

[@wokeaf1337]

India is scamming Russia, they pay in rupee 🤣 Russia cant buy anything with rupee on the world market. If they trade with India , it is considered a success in EU. Russia has a huge bank account in India full of rupee and India is suggesting Putin how he can invest Russia's rupee within India 😂All the trade of Russia with India is benefiting India at 100%. PS: ru pee , has anyone noticed it LMAO

[@jirachi-wishmaker9242]

India already had the largest oil refinery in the world, even before the war. It *buys* 3/5th of *raw* oil from Non Russian source. It sells *Refined* Oil & oil products

[@normalizedaudio2481]

How about coal? Same rocks as diamonds.

[@gaborrajnai6213]

What if you would forget your childish idiocy EU, start to behave as the grownup in the room, and start to negotiate with Russia? If the Poles and the Baltics dont like it, they are free to leave.

[@JohnBosco.1308]

The unfortunate story is that Albanians and the rest will find a way to sell it to the EU anyways.

[@rasputindasilva858]

Ya, money only change the pocket.

[@weichentechnikk8083]

@@rasputindasilva858 As long as it's not the russian pocket, it's ok.

[@brownmold]

​@@weichentechnikk8083no, because he is suggesting the Albanians will smuggle and sell to the EU....

[@samsanyang9252]

12 rounds & nothing😂 EU 😢

[@DushevnaSepsa]

Which other countries produce them? I heard its somewhere in Africa and its very, very messy, bloody diamonds i believe they call them. I guess it makes it more worth, especially considering we can make diamonds right?

[@ambessaseway5594]

Russia blood diamonds

[@Hacking-NASSA-with-HTML]

Great Financial Decision👍 Now EU would buy those diamonds at twice price, because those diamonds' origin would be India or China now 😁😂👍

[@sarjokujabi9730]

So called sanctions shameless EU 😅😅

[@neguseametih]

Uve said it all. sanctioning Russia is a waste of time

[@IamHandsome4u]

No, china the biggest consumer will happily buy them.

[@TheRealBillBob]

When will they ban Russian Uranium exports? Uhm never. 🤣🤣

[@tabithan2978]

Lotta young Americans are going with lab grown diamonds to avoid all ‘conflict’ diamonds. 👍

[@TriAmpHiFi]

Let them eat cake......................... don't we ever learn?

[@lebonericardoramakgala8160]

Botswana is loving this one

[@MetallicReg]

Tracing diamonds was always nearly impossible. The market is free - the diamonds will be sold regardless. They just may be imported through another routes as usual.

[@joexavier4070]

India and china says thanks to eu's foolishness

[@chesterburnett6999]

If Russia builds reactors in a few african countries and asia then 19:33 move to selling them uranium then stop sales to Europe and the u.s., would it affect the western economy?

[@peabase]

No, Russia would shoot itself in the foot by exiting yet another market. Not that it matters on the longer term, because they're being pushed out of said markets anyway. More sanctions are coming up.

[@brownmold]

No. Because Uranium is cheap per MW produced. Nobody needs vast amounts of it.

[@leifharmsen]

Why buy diamonds when you can make better ones?! If you can't manage that, then buy them from somewhere descent like Canada. If it is just for jewellery, you can always make pretty things with something else.

[@norinretrescu2474]

ok, so until now the price of stainless steel has increased due to sanctions on Russian nickel, now the price of aluminum products will also increase. It won't be good for Europe, but I'm sure there are people who knew this would happen and that they would get rich as a result.🤣🤣🤣🤣🤣🤣

[@christophermarshall527]

What's next, no Caviar?

[@johankiiza5814]

The EU sanctions do they work or?

[@anacc3257]

A little from my understanding. The Russian war economy gets impacted and their overall economy gets hit only a little since they circumvent the legal penalties through establishing shell companies. At least there's some pressure though.

[@festekj]

How many times has he said “if we believe”! I believe in Martians! lol

[@getting3844]

In this case I dare to say Toilet paper is more important than diamond in my life.

[@johnproton259]

Trolls are falling over themselves to say sanctions aren't working. If they're not working, what are the trolls even worried about? 😂

[@ChristiaanHW]

the more trolls you see under a western media outlet's video the more truth the video contains. if the video was bs they wouldn't need to comment on it. also try to remember some of the trolls you see, there are a few who comment on every DW video they see like their lives depend on it (and it probably does) to name a few examples of obvious trolls: - any name containing: duncansmith - any name containing: happymelon - and a lot of accounts with Indian user names. these accounts have been trolling under videos critical of Russia for months now and they keep parroting Russian state media. if they say something you can bet money on it that the opposite is thew truth.

[@MusehanaH]

Same reasons trolls are worried...if they are working, what are you worried about?

[@abdirahmanahmadalifarah926]

​@@MusehanaH😂😂😂💯👍👍

[@user-pn8nc8pr3z]

Dude you should read on what Indian external affairs minster Jaishankar said on sanctions. It's a double edge sword. Russian economy in terms of PPP has become the largest in Europe. In case of Germany the biggest economy in the EU most of their manufacturing are going elsewhere.

[@ChristiaanHW]

@@user-pn8nc8pr3z the reason why it looks like the Russian economy is doing well is because of the enormous military spending. but Putin buying rockets and tanks to use in Ukraine have no monetary benefit for 95% of the Russian population. if you exclude the military spending from the Russian GDP statistics their economy is doing really bad. never trust numbers at face value, always put them into perspective.

[@mattl1025]

Given South Africa's steadfast support for Putin in this war, maybe the EU should look at banning South African diamonds as well.

[@mrandersson2009]

Are we talking about industrial use diamonds or the fancy useless jewelry?

[@user-tt6il2up4o]

By of Russian cash is a door then that cannot be closed. Syria, Iraq, Libya and Afghanistan will then be able to claim trillions from the west. Sanctions are having an effect yes, mostly on the EU and I’m glad Germans are happy to see its economy deindustrialised.

[@luci75d76]

What a measure ...with zero sense. They sale it to someone tag it and it’s other origins and then sale to EU at high price. Hahahahhaa. Can’t stop the diamonds. It’s not written on them Russia 😂😂😂😂😂😂

[@Frenchylikeshikes]

Will it work? No, it won't, unfortunately.

[@Nubbe999]

Banning Russian diamonds will be as effective as banning African blood diamonds. They should put an effort into talking with countries like Turkey and China instead, which is helping Russia bypass all sanctions.

[@xab2317]

You could include India too that list as well and the global south

[@peabase]

So you're comparing Russia's armed forces to a ragtag band of tribal warriors in Africa? Blood diamonds that slip through the cracks may pay for a few technicals and some Chinese AK-47 knock-offs, but Russia's war bill is a bit higher than that. Turkey's and China's domestic markets for diamonds don't amount to that much in the grand scheme of things, and both Chinese and Turkish merchants engaging in international trade are clever enough to stay away from merchandise without genuibe certificates of origin.

[@yonduintiaz5315]

Comparing Russia and African blood diamond is kind of low thinking.

[@peabase]

@@yonduintiaz5315 It's entirely appropriate. Charles Taylor was associated with blood diamonds and war crimes. Putin, likewise.

[@D-E-S_8559]

Sanctioning Russia, ALL boils down to African Diamonds, Bauxite and Gallium, where the West is now comfortable to expose it's choke-hold on, and In this case, Africa and the Caribbean axis, Jamaica is the worlds leading Bauxite producer for Aluminium but they barely or never talk about it's Gallium production for Semiconductors, because that is the trickery of "raw material" exploitative economies. They hope, pray and ensure you don't learn the Periodic Table....

[@griffith500tvr]

Well that ban happened quickly, 2 years late....

[@VVayVVard]

The EU should have the courage to expand coverage to intermediate countries. No amount of direct sanctions will do very much if you allow them to be circumvented.

[@Knightonagreyhorse]

Diamonds are safely what we could call non-essential goods, except in saw blades and drills but they can be made cheaply.

[@dustintacohands1107]

Mmmm diamonds looks like sugar that’s why people love it

[@enricosantucci1974]

A New Year New Hypocrisy!!! When are we going to learn !!!

[@DamirMaatar]

So we are banning the company that produces 90% of the world's diamonds and we believe it won't end up backfiring ?

[@khanch.6807]

Diamond is a scam industry. Nothing will happen.

[@DamirMaatar]

@@khanch.6807 well the only thing that will happen is that Antwerp will lose it's place as a worldwide diamond trading center, and be replaced by some city in India or China.

[@Pifagorass]

Secondary sanctions would be more important than new ones

[@riversidegardenradio9070]

The long and short of the discussion is that you cannot sanction the people with the raw materials. In the long run the people with the resources will come out on top every time without exceptions.Mathematically it affects Russia because every customers adds to your total , but what is the real effect on their economy and how is economic wealth really measured is it in the amount of US$ you have or the amount of resources you have .

[@cloudpoint0]

Russia’s biggest money-maker before the war was refined petroleum products. China and India only want the cheaper crude oil to do their own refining. And of course India buys no gas and while China only buys the same small amount of gas that it bought before, so Russia needs to flare most of its gas at the wellhead. Russia is losing big-time. That’s why Russia’s petroleum and gas revenues have fallen 41% over the past year.

[@abdirahmanahmadalifarah926]

​@@cloudpoint0 you Need to do a lot of math .. Haven't you heard the Dark fleet owned by the Greeks ?? Russia already bought these old Rusty tankers, meaning no Assurance from the west which means the price cap isn't working and a tiny discount Just google this " Almost no russian oil is sold below the price cap... FT " .. THE west is losing the sanction game bro , and Denmark is tasked yo block russian tankers carrying oil from the baltic sea passing through the Danish straight, A desperate process.. but let's see if the west will do that

[@cloudpoint0]

​@@abdirahmanahmadalifarah926 A 41% decline in revenue (according to Russia itself) sounds to me like the West is winning the sanctions game. Russia is just escaping minor sanctions on the fringes of its sales while it loses big time on its main customers and former customers.

[@j.k.1239]

@@cloudpoint0 You do realize that their pipeline got blown up?...That's what caused decline.

[@jhngfdsdfgkjnbv]

'A 41% decline in revenue (according to Russia itself)' where and when? show me@@cloudpoint0

[@libGODFATHER]

Prices increase for the end users...... In no way Russia gonna get effected....

[@hungthuynh402]

Insanity is doing the same thing over and over again and expecting different results.

[@TonyL-gw4qx]

Nope the EU needs to ask Russia for peace. Give up you clowns!!!!!!

[@johnransom1146]

Canadian diamonds have a polar bear laser etched on them. Can only be seen under magnifying lenses. Apparently it’s like our money, very hard to counterfeit

[@D-E-S_8559]

​Sanctioning Russian Diamonds and Aluminium, ALL boils down to African Diamonds, Bauxite and Gallium, where the West is now comfortable to expose it's choke-hold on, and In this case, Africa and the Caribbean axis, Jamaica is the worlds leading Bauxite producer for Aluminium but they barely or never talk about it's Gallium production for Semiconductors, because that is the trickery of "raw material" exploitative economies. They hope, pray and ensure you don't learn the Periodic Table.......

[@duncansmith7562]

you got to laugh at the "enforcement of the oil price cap" provision. "enforcement of oil price cap" = it isn't working, but let's pretend it could by throwing out the word "enforcement".

[@rouz0]

It is an unprovoked game changer 🤷🏻😅

[@JG-mp5nb]

It is hurting Russia where it hurts the most, profits and market share. Best learn Mandarin Comrade!

[@duncansmith7562]

@@JG-mp5nb the whole point wasn't to "hurt Russia where it hurts the most", but to hurt Russia to such an extent that Russia has to abandon the war. Nice shift of the goalposts, but IMF projected growth for Russia in 2024 is 3.5%. which is 3.5% higher than Germany is looking at! Maybe the Germans need to learn Mandarin Chinese?

[@abdirahmanahmadalifarah926]

​@JG-mp5nb in your head comrade, those hitts were intended to change the behaviour of Russia, so As to abndon and stop the war .. did that happened?

[@duncansmith7562]

@@abdirahmanahmadalifarah926 sanctions have a 100% record....of failure. failed to change the behavior of Cuba, of Venezuela, of Iran, of N Korea, and now of Russia. oh, but have alienated all the sanctioned countries and thus encouraged them to align, against the USA

[@Micbop]

Thought they already did the diamonds thing last year, the EU talk to much takes them to long to do things!! These politicians are ridiculous talk talk talk, they really are pathetic hence anything government take so long for anything efficiency it terrible.

[@michaelopoku4837]

It will make it more expensive 😂

[@fredeokolo8717]

The precious metals business will simply move to the Middle East.