Author Topic: WDC warns of diamonds from CAR entering the markets  (Read 1302 times)

0 Members and 1 Guest are viewing this topic.

Offline mayya

  • Administrator
  • *****
  • Posts: 7874
WDC warns of diamonds from CAR entering the markets
« on: July 04, 2014, 18:24:55 PM »
Jul 3 2014 4:02PM
  16  0  2  0
WDC warns of diamonds from CAR entering the markets

Says until KP ban is lifted, trading in such diamond sis illicit
By: Diamond World News Service

Reference: 9281

The World Diamond Council (WDC) has warned the industry against trading in diamonds from Central African Republic (CAR) and has sought cooperation to curb such a practice which it terms as illicit, until a KP approval is obtained.

The trade body noted that despite the Administrative Decision of the Kimberley Process of May 23, 2013, ordering a temporary suspension of trading in diamonds from the Central African Republic (CAR), diamond production is continuing in CAR and there is evidence of diamonds from the CAR reaching the markets.
The WDC emphasised that until the ban is lifted, trading is such diamonds is considered illicit, and members of the industry dealing in such diamonds would be subject to sanctions agreed to by the World Diamond Council and the diamond exchanges affiliated to the World Federation of Diamond Bourses.

Seeking cooperation from industry members, the WDC urged any member aware of such trading activities, to report the same to the Kimberley Process Authorities in the country in which he or she is operating. “Edward Asscher, President of the World Diamond Council said, “Illicit trading in diamonds from the CAR not only undermines the efforts of the international community to restore peace in the country, but it challenges the reputation of the Kimberley Process Certification Scheme and the efforts of our industry, government and civil society to eliminate the trade in conflict diamonds.”

The Kimberley Process is instituting measures to monitor illicit trafficking in diamonds from the CAR.
The WDC noted that the suspension would continue until a KP review mission is carried out, to ascertain adherence of minimum KPCS standards, but the mission seems unlikely in the near future owing to the present security situation in the CAR.