Nambia: G7 Sanctions Plan is Costly and Complicated
December 26, 23
(IDEX Online) - The government of Namibia says G7 plans to channel all diamonds into the EU via a single point of entry will be costly and complicated.
Tom Alweendo, the Minister of Mines and Energy, is calling on G7 nations to reconsider their plan, due to some into effect in a few days time, on 1 January 2024.
"We are deeply concerned about the potential consequences of these restrictive measures, as it is our understanding that all diamonds, whether rough, cut, or polished, entering the G7 and EU will be subject to verification through a 'single node' in Antwerp," he said.
He is concerned that Namibia, the world's eighth biggest diamond-producing country, will suffer from extra delays, regulations and costs.
Alweendo also said he was concerned that new sanctions would undermine the authority of the Kimberley Process Certification Scheme.
"This would mean that the certification issued in Antwerp could effectively nullify our ability to authenticate our diamonds as non-Russian in origin," he said.
Pic courtesy Namdeb of rough sorting