Belgium has raised reservations about the sanctions

The European Commission is preparing to announce a new package of sanctions against russia on Wednesday, and the proposed measures include suspending the export of russian diamonds to the European Union, European diplomacy chief Josep Borrell said. The sanctions, the 12th set of measures since russia's invasion of Ukraine, are aimed at cutting russia's revenue from diamond sales, estimated at $4-5 billion annually.

Belgium has raised reservations about the sanctions, which target the russian diamond trade and are coordinated with G7 countries. Belgium has proposed solutions based on a traceability system designed not to affect the Belgian diamond industry, given that Antwerp is an important center of the trade, reports Digi24. 

The traceability system would allow rough diamonds from russia to be excluded from world trade flows. Once the new sanctions package is finalized, it will be put to a vote of member states in the EU Council, requiring unanimity.

Hungarian foreign minister Peter Szijjarto expressed reservations about the sanctions, saying the EU should assess the "failure" of its previous policy and the self-inflicted damage of the sanctions package. Hungary has been consistently against sanctions against russia, but has not used its veto to block them.