Sanctions: Antwerp Calls for More Entry Points
May 26, 24(IDEX Online) - The Antwerp World Diamond Centre (AWDC) is calling for additional verification points for rough diamonds entering the EU, to ensure they comply with sanctions on Russia.
The move follows widespread dissatisfaction across the industry, especially African producers, with the decision to have Antwerp as the sole entry point.
"We are pro-actively advocating for the implementation of one or more additional rough verification points outside the G7," said AWDC's interim CEO Karen Rentmeesters in a statement.
"We believe this is a necessary step in the further development towards a control system that meets the interest of all stakeholders involved, in particular those of African producing countries."
She said the AWDC was fully aligned with the G7's decision to implement an effective ban on Russian diamonds, but also felt it was important to ensure the trade of non-sanctioned goods wasn't disrupted.
G7 sanctions on Russian goods of 1.0-cts or above were introduced in March, and will cover goods of 0.50-cts or above from 1 September.