https://en.sputniknews.africa/20240406/three-african-countries-demand-g7-review-diamond-certification-mechanism-due-to-unfair-burden-1065937188.html
Three African Countries Demand G7 to Review Diamond Certification Mechanism Due to 'Unfair Burden'
Three African Countries Demand G7 to Review Diamond Certification Mechanism Due to 'Unfair Burden'
Sputnik Africa
Since the first sanctions on Russia over the Ukraine conflict, the G7 countries have targeted Russian diamond exports. Soon after the conflict intensified... 06.04.2024, Sputnik Africa
2024-04-06T12:15+0200
2024-04-06T12:15+0200
2024-04-06T12:42+0200
sub-saharan africa
botswana
angola
namibia
southern africa
g7
diamonds
mokgweetsi eric masisi
atiku abubakar
russia
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Authorities in Angola, Botswana and Namibia have asked the Group of Seven (G7) countries to remove a provision that obligates diamond producers to send them to Belgium for subsequent certification, the media reported on Friday, citing Botswana President Mokgweetsi Masisi.Masisi stressed that the G7's decision to track diamonds harms the interests of African countries, especially Botswana, which ranks first in Africa in terms of diamond production.Moreover, the president noted that the certification system required by the G7 has led to disruptions in the global diamond trade.In December 2023, the G7 countries announced the introduction of restrictions on the import of diamonds mined or processed in Russia from January 1, 2024. On March 1, restrictions also came into force for Russian diamonds processed in other countries. In a joint statement, the G7 leaders agreed to establish a "robust mechanism" for the verification and certification of rough diamonds within the G7 by September 1, 2024.The impacts of these anti-Russian sanctions are "huge" because the diamonds are the hardest minerals on Earth and can only be mined in a limited number of places, Mohammed Abubakar Mohammed, Senior Special Assistant on Solid Minerals Development to the executive governor of Kwara State, Nigeria, told Sputnik Africa in February.Moreover, according to Abubakar, these sanctions limit the freedom of choice of other countries, depriving them of the right to negotiate with the partners of their choice.Furthermore, Namibia's Minister of Mines and Energy, Tom Alweendo, said last December that it is necessary to review G7 sanctions against the Russian precious stones. According to him, the restrictive measures would have a negative economic impact on African diamond-producing countries, including Namibia.
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botswana, angola, namibia, southern africa, g7, diamonds, mokgweetsi eric masisi, atiku abubakar, russia, sanctions, international, economy, trade
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Three African Countries Demand G7 to Review Diamond Certification Mechanism Due to 'Unfair Burden'
12:15 06.04.2024 (Updated: 12:42 06.04.2024) Since the first sanctions on Russia over the Ukraine conflict, the G7 countries have targeted Russian diamond exports. Soon after the conflict intensified, direct shipments of Russian rough to the US and the UK were prohibited. Despite warnings about the industry's grave ramifications, the G7 agreed last year to expand sanctions on Russian gems.
Authorities in Angola, Botswana and
Namibia have asked the Group of Seven (G7) countries to remove a provision that obligates diamond producers to send them to Belgium for subsequent certification, the media reported on Friday, citing
Botswana President Mokgweetsi Masisi.
"We wrote a letter, we authored the main letter, we shared it with other producing countries namely Namibia and Angola, and we asked them to be co-signatories and with minor amendments we all co-signed and sent it to G7, and we have not gotten a response," he said, as cited by the media.
Masisi stressed that the G7's decision to track diamonds harms the interests of African countries, especially Botswana, which ranks first in Africa in terms of
diamond production.
"The G7 traceability mechanism poses an unfair burden on African diamond producers. We cannot agree to an attempt to undermine our quest for development by taking charge and responsibility of our own value addition of our resources," Masisi reportedly said. "Because if you make Belgium, Antwerp the single node for verification, gosh, what impudence. When we mine our diamonds here and we are certain they are mined here, and you add another layer of cost, delay and time and risk to direct interaction with customers and clients and you take them still to Antwerp, it’s not acceptable."
Moreover, the president noted that the certification system required by the G7 has led to disruptions in the global diamond trade.
In December 2023, the G7 countries announced the introduction of
restrictions on the import of diamonds mined or processed in Russia from January 1, 2024. On March 1, restrictions also came into force for Russian diamonds processed in other countries. In a joint statement, the G7 leaders agreed to establish a "robust mechanism" for the verification and certification of rough diamonds within the G7 by September 1, 2024.
The impacts of these anti-Russian sanctions are "huge" because the diamonds are the hardest minerals on Earth and can only be mined in a limited number of places, Mohammed Abubakar Mohammed
, Senior Special Assistant on Solid Minerals Development to the executive governor of Kwara State, Nigeria,
told Sputnik Africa in February.
Moreover, according to Abubakar, these sanctions limit the freedom of choice of other countries, depriving them of the right to
negotiate with the partners of their choice.
Furthermore, Namibia's Minister of Mines and Energy, Tom Alweendo, said last December that it is necessary to review G7 sanctions against the Russian precious stones. According to him, the restrictive measures would have a negative economic impact on African diamond-producing countries, including Namibia.
