PRESS RELEASE : Joint statement on G7 diamond sanctions [November 2024]
The press release issued by the Foreign Office on 27 November 2024.
Botswana and the G7 announce plans to improve transparency in the diamond trade. A new certification node will help stop Russian origin diamonds entering G7 markets.
Joint Statement by Botswana and the G7 diamond technical team:
A G7 import ban on Russian origin diamonds began on 1 January 2024. On 1 March 2024, Russian diamonds processed in third countries were also banned in the G7 jurisdictions.
On 1 March 2024, the first certification node with the ability to certify the origin of rough diamonds and issue G7 certificates became operational in the EU. Following this, the G7 diamond technical team and Botswana have increased collaboration on enhancing traceability and transparency in the diamond trade.
To enhance Botswana’s capacity in certifying rough diamonds for export, aligning with the G7 requirements to prevent Russian-mined diamonds from entering G7 markets and ensure traceability throughout the supply chain, the Belgium and Botswana teams conducted a comprehensive gap analysis, assessing current frameworks and identifying areas that require further alignment.
As a result, Botswana and the G7 diamond technical team are now crafting a roadmap to address any identified gaps, aiming to have the export certification node fully operational in Botswana as soon as possible next year.
H.E. President Duma Boko of Botswana, in his recent keynote address at the FACET event in Antwerp on 26 November 2024, underscored the importance of ethical and sustainable diamond mining as a cornerstone of Botswana’s ongoing efforts to enhance transparency and accountability within the diamond industry. “Botswana is committed to pioneering traceability and responsible mining practices, ensuring that our diamonds not only shine in beauty but also embody integrity and ethical stewardship,” he said.
Establishing this certification node will reinforce Botswana’s position as a responsible global leader in diamond production, offering reassurance to international buyers and stakeholders. This development is expected to increase investor confidence, support economic growth, and promote ethical practices across the diamond supply chain. The G7 diamond technical team will continue engaging with other African diamond-producing countries such as Namibia and Angola to consider setting up additional export certification nodes.
