More sanctions on individuals - including those involved in organizing Moscow's ad hoc votes in occupied east Ukraine on joining Russia - are also expected.

The collapse of a tailings dam in South Africa earlier this month has put the spotlight on the need for binding global regulations of facilities used to store mining waste.

There’s a handful of Indian and Belgian buyers who are snapping up large volumes of Russian diamonds at lucrative terms.

An earlier decision to move the waste into the pit could have relieved pressure on the tailings dam which burst on Sunday morning.

The collapse of the dam triggered heavy flooding and resulted in three people dying and property being damaged.

The disaster occurred in the diamond mining town of Jagersfontein.