Sunday, September 1, 2024

Botswana leads call for G7 review of diamond tracking initiative

Botswana, a prominent diamond producer in Africa, has spearheaded efforts urging the Group of Seven (G7) leading industrial nations to reconsider a recent directive mandating all diamond producers to send their gems to Belgium for certification. This push comes in response to the G7’s decision to prevent the import of diamonds mined in Russia.

President Mokgweetsi Masisi of Botswana conveyed the nation’s discontent to diplomats in Gaborone on Wednesday, asserting that the G7’s traceability mechanism imposes an unjust burden on African diamond producers.

The G7, comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, implemented stringent measures on March 1, stipulating that all diamonds entering G7 countries must pass through Antwerp, Belgium, for origin verification. These controls aim to block Russian diamonds from global markets amid concerns over potential funding of Russia’s war in Ukraine.

Masisi condemned the unilateral imposition of these measures by the G7, stressing the lack of consultation with African diamond-producing countries before their implementation. He highlighted the adverse impact on Botswana, emphasizing the additional costs, delays, and risks imposed by routing diamonds through Antwerp.

Furthermore, Masisi disclosed his efforts to rally support among other leaders to contest these controls. Despite a joint protest letter from Botswana, Angola, and Namibia to the G7, there has been no response thus far.

Acknowledging the importance of traceability measures, Belgian-based diamond industry researcher Hans Merket emphasized the need to address concerns raised by African producers while advancing traceability in the diamond trade.

In a related development, more than 100 diamond businesses expressed apprehension over customs clearance delays in a letter addressed to the Antwerp World Diamond Centre, citing challenges arising from the G7’s traceability measures.

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Alice
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