Antwerp Urges Adjustments to G7 Diamond Sanctions

Antwerp World Diamond Centre (AWDC) called for changes to the upcoming G7 diamond certification system, which aims to exclude Russian diamonds from the market
Antwerp Urges Adjustments to G7 Diamond Sanctions

AWDC interim CEO Karen Rentmeesters suggested that Antwerp should not be the only "rough node" for this certification process. Instead, she proposed that additional nodes could be established in diamond-producing countries like Botswana. This would allow these nations to verify the origin of their own diamonds. Botswana, for instance, already serves as a sorting centre for De Beers production and could potentially handle certification as well.

The AWDC expressed support for allowing certain producers to certify their own diamonds, although the final decision will rest with governments rather than the industry. Rentmeesters emphasized the importance of G7 member nations and the European Union adopting a unified approach when they implement sanctions on diamonds over half a carat in September.

The initial sanctions, which took effect in March, targeted rough and polished diamonds of at least one carat.

Diamond World