The State Department and the European Commission held a virtual meeting with representatives of the diamond industry on Monday to discuss the next steps in addressing concerns over the trade of diamonds from Russia.
“Ambassador James O’Brien joined Deputy Director General and Chief Trade Enforcement Officer Denis Redonnet of the European Commission to discuss with the U.S. and European offices of leading diamond retailers, manufacturers, laboratories, and industry trade associations the importance of the diamond industry’s engagement on future Russia-related import measures, including on polished diamonds, as noted in the recent G7 Leaders’ Statement. Russia continues to earn billions of dollars from the diamond trade, and the discussion centered on the most effective and impactful ways to disrupt that revenue stream,” the media note released by the State Department said.
Representatives from the diamond industry pledged to work with the State Department and the European Commission to address these concerns and ensure that diamonds from Russia are not contributing to conflict or human rights abuses. The industry also committed to improving traceability and accountability in the diamond supply chain, including by implementing new technology and certification schemes.
The State Department and the European Commission welcomed these commitments and urged the diamond industry to continue working with them to address these important issues. They also emphasized the need for cooperation between governments, industry, and civil society to ensure that the diamond trade is conducted in a responsible and sustainable manner.
The meeting comes ahead of a scheduled meeting of the Kimberley Process, an international certification scheme for diamonds that aims to prevent the trade of conflict diamonds. The State Department and the European Commission have called on all participants in the Kimberley Process to take action to address concerns over the trade of Russian diamonds.
Vladimir Malakhov, Rough&Polished
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