De Beers has expressed its unwavering and complete support for the G7 countries' objectives in banning the entry of diamonds originating from Russia across their borders.
Group chief executive Al Cook said in an open letter to the G7 leaders and technical committee that a framework designed to identify diamonds from Russia must be able to identify and trace all diamonds.
“Since the prospect of new import restrictions was first announced by the G7 earlier this year, De Beers has worked with government and industry stakeholders to identify effective and practical industry-wide solutions to meet this objective,” he said.
“Throughout our discussions, two things have been clear: why we should do this is easy, but how we should do it is hard.”
Cook emphasised the importance of involving all sectors of the industry in the development of a framework that applies universally.
“While some of the diamond industry sits within the G7, much of it sits outside of it. We urge the G7 to engage with governments and industry in key producer countries such as Botswana, Namibia, South Africa, and Angola and key cutting centres such as India,” he said.
Cook said any framework must be workable and must avoid damaging diamond exports from producing countries outside Russia.
“If an effective framework identifies and traces all diamonds, then it must be as accessible to the artisanal sector in Africa, small enterprises in India, and independent jewellers in America as it is to De Beers and our partners,” he said.
“There must be multiple government diamond offices in trusted countries for the certification of rough diamonds to avoid debilitating and restrictive bottlenecks. Any solution that leaves parts of our industry behind threatens the integrity of that framework.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
