Wednesday, June 5, 2024
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Antwerp World Diamond Centre Proposes Amendment to G7 Diamond Sanctions

Antwerp— The Antwerp World Diamond Centre (AWDC) has called for changes to the proposed G7 diamond sanctions, arguing that Antwerp should not be the sole “rough node” for the new G7 certification system designed to exclude Russian diamonds from the global market.

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The G7 plan, outlined by the European Union, currently mandates that all diamonds must be certified in Antwerp before entering G7 countries. This requirement has faced opposition from African diamond producers, who cite logistical challenges.

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In an interview with JCK, AWDC interim CEO Karen Rentmeesters suggested establishing additional certification nodes in diamond-producing countries such as Botswana. This adjustment would enable these nations to verify the origin of their own diamonds, streamlining the process.

Rentmeesters acknowledged that the G7 sanctions have caused delays in importing goods into Belgium and other countries. “If the paperwork is in order and the diamonds are of single origin, there’s usually no issue,” she explained. “However, delays still occur, and there is room for improvement in efficiency. We are working diligently to address these issues.”

Emphasizing the significance of the sanctions, Rentmeesters remarked, “This represents the biggest change in the industry’s recent history. While patience is limited, it’s important to recognize that the sanctions only started in March. It’s now May, and we all need to adapt to this new reality. The sanctions are here to stay.”

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