African Diamond Producers Association opposes G7 diamond protocol
African Diamond Producers Association's (ADPA) opposition to the G7 diamond protocol. The G7 countries are pushing for this protocol to prevent the entry of Russian diamonds into their countries.
India cuts and polishes 9 out of 10 diamonds sold in the global market and diamond exporters in the country say it is very difficult to ascertain the origin of a diamond once it is cut and polished.
ADPA has written to the chairman of the Kimberley Process Certification System (KPCS) to convey its resentment at not being included in the G7 discussions held since February on the matter and has rejected the G7 diamond protocol.
Russian diamonds cut and polished outside Russia are considered originating from the country that “transformed” them.
To counter this loophole, the G7 block plans to prohibit the import of diamonds mined in Russia, including those cut and polished in other countries. “The grouping is also working on a tracing system that would help it block imports of gemstones mined in Russia.
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