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The leaders of the Group of Seven countries with the most developed economies in the world (G7) are expected to announce a ban on the trade in Russian diamonds later today. This was reported by Reuters, citing sources familiar with the situation.

The heads of the United States, Canada, Britain, Germany, Italy, France and Japan will also discuss measures to manage about $300 billion in assets owned by Russia's central bank, which have been blocked amid a military invasion by Moscow's rulers of Ukraine.

Brussels tightens oil sanctions against Russia

According to Reuters sources, the leaders will hold a virtual meeting later today, at which they will also comment on the ceiling on the prices at which Russian oil is traded.

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Russian diamonds