Brussels, 15 December 2023 (dpa/MIA) - EU leaders have approved a 12th package of sanctions on Russia over its invasion of Ukraine, a spokeswoman for European Council President Charles Michel said on the sidelines of a summit in Brussels.

The package announced on Thursday provides for the introduction of an import ban on diamonds and the tightening of the price cap on Russian oil exports to third countries, which has so far had little effect.

Trade restrictions are also planned for other goods as well as punitive measures against individuals and organizations supporting the Russian war against Ukraine.

The agreement is to be formalized by Friday.

In contrast to Britain, the European Union has yet to introduce an import ban on diamonds and aluminium from Russia. The main reason for this has been opposition from Belgium. The port city of Antwerp has been one of the world's most important diamond trading centres since the 16th century.

Russia, in turn, is the world's largest producer of rough diamonds. In 2021, the state diamond miner Alrosa had revenues of 332 billion roubles (around $3.6 billion).

In addition to the economic sanctions, measures are planned against more than 100 other individuals and organizations that support the Russian war against Ukraine. They would then no longer be able to dispose of assets held in the EU, or enter the bloc.

Prior to agreeing the sanctions, EU countries - excluding Hungary - agreed to invite Ukraine to start accession talks to join the EU.

Ukraine's EU accession bid was fast-tracked due to the Russian invasion.

Photo: MIA archive