Botswana will join Antwerp, Belgium, as an origin certifier of rough diamonds for export to the Group of Seven (G7) nations, which banned imports of Russian stones from the start of this year, a joint statement said on Wednesday.
The addition of Botswana looks set to salvage implementation of the ban. The initial system would have seen all diamonds go through Europe's diamond hub in Antwerp for verification, backed by a new tracing system.
African diamond producers Angola, Botswana and Namibia, as well as diamond miner De Beers, had said the mechanism was unfair and would hurt their economies.
“Botswana and the G7 diamond technical team are now crafting a road map to address any identified gaps, aiming to have the export certification node fully operational in Botswana as soon as possible next year,” the statement said.
The G7 nations' ban on direct Russian diamond imports took effect on January 1, followed by a ban on Russia-origin diamonds via third countries from early March.
The tracing system was meant to be up and running by September 1, but the EU delayed the implementation to March 2025.
Reuters
Botswana to become certifier in G7 Russian diamond ban
Image: De Beers diamond
Botswana will join Antwerp, Belgium, as an origin certifier of rough diamonds for export to the Group of Seven (G7) nations, which banned imports of Russian stones from the start of this year, a joint statement said on Wednesday.
The addition of Botswana looks set to salvage implementation of the ban. The initial system would have seen all diamonds go through Europe's diamond hub in Antwerp for verification, backed by a new tracing system.
African diamond producers Angola, Botswana and Namibia, as well as diamond miner De Beers, had said the mechanism was unfair and would hurt their economies.
“Botswana and the G7 diamond technical team are now crafting a road map to address any identified gaps, aiming to have the export certification node fully operational in Botswana as soon as possible next year,” the statement said.
The G7 nations' ban on direct Russian diamond imports took effect on January 1, followed by a ban on Russia-origin diamonds via third countries from early March.
The tracing system was meant to be up and running by September 1, but the EU delayed the implementation to March 2025.
Reuters
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