Mmegi

EU goes ahead with contested diamond move

Joint forces: Moagi and Cook have spoken out against the G7 move
Joint forces: Moagi and Cook have spoken out against the G7 move

The European Union (EU) says all G7 members will implement a direct ban on Russian diamonds from the beginning of March and establish a single node in Antwerp to verify all imports – the latter a move strongly resisted by African producers such as Botswana.

Under the move, the G7 wants all global rough diamond production shipped Antwerp for certification that the stones are not of Russian origin, something described by Minerals and Energy minister, Lefoko Moagi, as “market swallowing”.

The G7 or Group of Seven represents most of the world’s richest economies and the major market for diamond jewellery, meaning their decisions reverberate across producer nations such as Botswana.

Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

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