Southern Africa: Botswana Objects to G7-EU Diamond-Tracking System

Gaborone, Botswana — African diamond producers, led by Botswana, are demanding a review of the tracking and verification system that European Union and G7 nations introduced March 1.

Under the arrangement, diamonds entering EU and G7 countries – which represent 70% of the global diamond market – have to be sent to Antwerp, Belgium, for certification, in an effort to prevent the importation of sanctioned Russian diamonds.

The traceability initiative has resulted in clearance delays and disruption…