Foreign Minister Mélanie Joly has authorized a partial exemption for Canadian jewelers from sanctions on Russian diamond imports, despite her previous commitment to increase efforts against Russian war financing. Blacklock's Reporter says the move comes after concerns from the diamond industry regarding the impact of the sanctions.In a notice under Special Economic Measures Regulations, Joly’s department explained that the exemption was necessary to prevent financial burdens on jewelers without significantly affecting Russia’s revenue from diamond exports. “Not allowing an exemption for these diamonds puts a financial burden upon the diamond industry without affecting Russia’s revenues from diamond exports,” the department stated.The Canadian Jewelers Association has not commented on the decision. Russia is the world’s largest producer of diamonds, with annual exports valued at approximately $5 billion.Under the current sanctions, Canadians are prohibited from importing, purchasing, or selling Russian diamonds. However, the exemption addresses complaints from lobbyists that the sanctions had unintentionally blocked shipments already in transit. The Regulatory Impact Analysis Statement explained that the industry faced difficulties with "legacy diamonds" that had been legally purchased before the sanctions came into effect but were caught in transit.“The diamond industry, including Canadian industry representatives, requested the G7 address this ‘legacy diamond’ issue,” said the statement. The exemption permits Canadian operators to import diamonds of Russian or unknown origin, provided they were already outside of Russia when the ban was implemented.Russian diamond imports to Canada were valued at $4.1 million annually before the Ukraine war. The amendment, according to the department, eliminates a financial burden on the Canadian diamond industry.Joly had previously emphasized the need for strong sanctions to limit Russia's war efforts. In a 2022 report to Parliament, she called for continued pressure on the Russian regime, noting that “all options remain on the table.” She had also stressed the gravity of the global security threat posed by Russia’s invasion of Ukraine, calling it "the greatest challenge to global security since World War II.".This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
Foreign Minister Mélanie Joly has authorized a partial exemption for Canadian jewelers from sanctions on Russian diamond imports, despite her previous commitment to increase efforts against Russian war financing. Blacklock's Reporter says the move comes after concerns from the diamond industry regarding the impact of the sanctions.In a notice under Special Economic Measures Regulations, Joly’s department explained that the exemption was necessary to prevent financial burdens on jewelers without significantly affecting Russia’s revenue from diamond exports. “Not allowing an exemption for these diamonds puts a financial burden upon the diamond industry without affecting Russia’s revenues from diamond exports,” the department stated.The Canadian Jewelers Association has not commented on the decision. Russia is the world’s largest producer of diamonds, with annual exports valued at approximately $5 billion.Under the current sanctions, Canadians are prohibited from importing, purchasing, or selling Russian diamonds. However, the exemption addresses complaints from lobbyists that the sanctions had unintentionally blocked shipments already in transit. The Regulatory Impact Analysis Statement explained that the industry faced difficulties with "legacy diamonds" that had been legally purchased before the sanctions came into effect but were caught in transit.“The diamond industry, including Canadian industry representatives, requested the G7 address this ‘legacy diamond’ issue,” said the statement. The exemption permits Canadian operators to import diamonds of Russian or unknown origin, provided they were already outside of Russia when the ban was implemented.Russian diamond imports to Canada were valued at $4.1 million annually before the Ukraine war. The amendment, according to the department, eliminates a financial burden on the Canadian diamond industry.Joly had previously emphasized the need for strong sanctions to limit Russia's war efforts. In a 2022 report to Parliament, she called for continued pressure on the Russian regime, noting that “all options remain on the table.” She had also stressed the gravity of the global security threat posed by Russia’s invasion of Ukraine, calling it "the greatest challenge to global security since World War II.".This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
