Botswana and Angola are actively working to prevent Russian diamonds from entering Western markets. Botswana will certify diamond origins starting in 2025, while Angola has sold Russian interests in their joint venture. These moves underline the importance of diamonds to both economies and their support for sanctions against Russia.
In recent developments, Botswana and Angola have strengthened their positions against Russian diamond exports, aligning with Western sanctions. Botswana, the world’s second-largest diamond producer, plans to certify the origin of its diamonds starting in early 2025. This initiative, developed with the Antwerp World Diamond Centre, aims to create a traceability system that prevents Russian diamonds from infiltrating Western markets. Angola has also severed ties with Russian interests by facilitating the sale of Alrosa’s 41% stake in their joint venture to an Omani investment fund. Together, these actions underscore the significance of diamond exports to both nations’ economies and their commitment to maintaining market integrity.
The global diamond industry is witnessing increased scrutiny, particularly concerning the flow of Russian diamonds in light of geopolitical tensions. Botswana and Angola, two major players in the diamond market, are taking proactive measures to ensure that their diamonds are distinguishable from Russian ones. This strategic initiative is essential not only for protecting their national interests but also for supporting the international community’s sanctions against Russia’s diamond industry, specifically addressing illegal trade practices.
The concerted efforts of Botswana and Angola to distance themselves from Russian diamond exports reflect a broader commitment to uphold integrity within the international diamond market. By implementing robust traceability systems and divesting from Russian partnerships, these countries are not only securing their economic interests but also reinforcing compliance with Western sanctions.
Original Source: euromaidanpress.com
