{"id":60451,"date":"2023-12-21T18:10:02","date_gmt":"2023-12-21T18:10:02","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/g7-diamond-restrictions-to-adversely-impact-namibia-alweendo"},"modified":"2023-12-21T18:43:32","modified_gmt":"2023-12-21T18:43:32","slug":"g7-diamond-restrictions-to-adversely-impact-namibia-alweendo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/g7-diamond-restrictions-to-adversely-impact-namibia-alweendo","title":{"rendered":"G7 diamond restrictions to adversely impact Namibia – Alweendo"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>In May this year, the G7 grouping of seven major industrial countries announced that they are considering measures to restrict the sale of Russian diamonds. The group stated an intention to engage key partners to ensure the effective implementation of these restrictive measures.<\/p>\n

About two weeks ago, the G7 issued a third statement on the proposed restrictive measures. Part of the statement reads \u201cWe will introduce import restrictions on non-industrial diamonds mined, processed or produced in Russia, by 1 January 2024, followed by further phased restrictions on the import of Russian diamonds processed in third countries, targeting 1 March 2024\u201d.<\/p>\n

In a statement dated 19 December 2023, mines and energy minister Tom Alweendo noted: \u201cIt is our understanding that the verification of all diamonds (rough, cut, and polished), entering the G7 and EU will take place through a \u201csingle node\u201d in Antwerp. As a key diamond-producing country, we are concerned about the implications of these restrictive measures\u201d.<\/p>\n

\u201cIt is our considered view that the G7 proposal of a single node will have negative socio-economic impacts on African diamond-producing countries, including Namibia. The proposal will add an additional regulatory layer, thereby creating blockages and delays that will lead to additional costs. This will have a negative impact on our competitiveness,\u201d he added.<\/p>\n

The minister further stated that the G7 proposal will undermine the Kimberley Process Certification Scheme, thereby rendering it irrelevant.<\/p>\n

He pointed out that the certification to be issued in Antwerp will, de facto, render Namibia\u2019s rights to authenticate its own diamonds as non-Russian peripheral. This, Alweendo observed, will undermine Namibia\u2019s sovereign right to manage the trade of its diamonds and in the best interest of its people.<\/p>\n

\u201cWe, therefore, call on the G7 to directly and meaningfully engage with all the producing countries to discuss the details of the proposed measures and their implications on our economies, and the livelihoods of our people,\u201d Alweendo stressed.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. In May this year, the G7 grouping of seven major industrial countries announced that they are considering measures to restrict the sale of Russian diamonds. The group stated an intention to engage key partners to ensure the effective implementation of these restrictive measures. About two weeks ago, the G7 issued a third […]<\/p>\n","protected":false},"author":84,"featured_media":60450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,236,233],"class_list":["post-60451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nG7 diamond restrictions to adversely impact Namibia - Alweendo - Namibia<\/title>\n<meta name=\"description\" content=\"In May this year, the G7 grouping of seven major industrial countries announced that they are considering measures to re ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/g7-diamond-restrictions-to-adversely-impact-namibia-alweendo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"G7 diamond restrictions to adversely impact Namibia - 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