The twelfth package of sanctions presented in Brussels proposes a series of new import and export bans, including against the Russian diamond industry.

"According to U.S. estimates, diamonds are on Russia's top 10 list of the country's most profitable export products, if you don't count oil products," says Maria Lapenkova.

The package will now be handled by member states, mainly through their ambassadors in Brussels. Full unanimity is required for the package to go through.

Hear more about the sanctions package in the video above or watch the full episode of War of the Week here.