The EU is imposing a prohibition on the import of diamonds from Russia, including those processed in third countries, the European Council has said in a statement on Monday.

"The EU is imposing a prohibition on the direct or indirect import, purchase or transfer of diamonds from Russia. This prohibition applies to diamonds originating in Russia, diamonds exported from Russia, diamonds transiting Russia and Russian diamonds when processed in third countries," it said.

A direct ban applies to non-industrial natural and synthetic diamonds as well as diamond jewelry, as of January 1, 2024. An indirect import ban of Russian diamonds when processed in third countries, including jewelry incorporating diamonds originating in Russia, will be phased in progressively as of 1 March 2024 and be completed by September 1, 2024.