Rapaport raps Belgium’s diamond industry ‘claw back’

Botswana and other African producers are unhappy over the G7’s plan which states that from September all polished diamonds should be routed through Antwerp for certification that the stones are not of Russian origin. A G7 team that was in the country last week for consultation left without providing any assurances to local authorities.

Minerals and Energy minister, Lefoko Moagi, previously described the G7’s proposals as ‘market swallowing’, while De Beers, the world’s single biggest industry producer outside of Russia, has equally noted its outrage on the issue.