INSUBCONTINENT EXCLUSIVE:
Brussels is aiming to present proposals on Wednesday for a new round of sanctions on Russia over the war in Ukraine, including banning
Moscow's lucrative diamond exports, the EU's foreign policy chief said Monday.The 27-nation bloc has already imposed 11 rounds of
unprecedented sanctions on Russia since the Kremlin launched its all-out invasion of Ukraine in February 2022."This twelfth package will
include more listings, new export bans, among them diamonds, actions to tighten the oil price cap in order to decrease the revenue Russia is
getting," the EU's top diplomat Josep Borrell said.The sanctions will then have to be approved unanimously by EU countries.The EU is set to
go ahead with a ban on Russian diamonds as Belgium, a key trading hub, has dropped long-standing opposition after the G7 thrashed out a plan
to trace the origin of the precious stones.The push for new sanctions comes as the EU is struggling to put together a long-term plan to
ensure funding for weapons to Ukraine.Borrell in July proposed a four-year scheme worth 20 billion euros ($21.4 billion) to finance arms
deliveries to Kyiv.But the initiative has failed to gain traction as key countries such as Germany have balked at paying for it.Borrell said
he hoped to present a revised plan for defense funding for Ukraine to EU leaders at a Brussels summit in December.
