Sunday, May 19, 2024
Advertisements

De Beers Taps Former British Diplomat to Challenge Antwerp’s Diamond Entry Monopoly

Emma Wade-Smith, formerly the UK consul general in New York, has assumed a new role as De Beers’ senior vice president of government affairs, spearheading efforts to challenge Antwerp’s longstanding monopoly as the exclusive entry point for diamonds into EU countries. Working alongside a team based in Washington DC, Wade-Smith is advocating for the establishment of additional entry nodes in key diamond-producing nations such as Botswana, Namibia, South Africa, and Canada.

Advertisements
Advertisements

De Beers contends that diversifying entry points would not only enhance diamond source verification but also safeguard ethical non-Russian diamond producers and the integrity of the global diamond trade. This strategic initiative comes in response to recent actions taken by G7 nations and 27 EU countries, which have imposed a ban on imports of Russian gem-quality diamonds weighing 1.0 carats or more, effective as of March 1st, irrespective of their cutting and polishing location.

Advertisements
Advertisements
Advertisements

Related Articles

Latest Articles