{"id":68071,"date":"2024-05-04T17:16:28","date_gmt":"2024-05-04T17:16:28","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds"},"modified":"2024-05-04T17:32:05","modified_gmt":"2024-05-04T17:32:05","slug":"namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds","title":{"rendered":"Namibia concerned that new EU approach would increase costs and devalue its diamonds"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>NAMIBIA is fully capable of certifying its own diamonds and is concerned that the \u2018single rough node\u2019 approach introduced by the European Union (EU) would increase transaction costs for Namibia and reduce the competitiveness of Namibian diamonds in the international market, said the State House in a statement. The statement comes as it dismissed a \u201csensational\u201d and \u201cmisleading\u201d front-page report published Thursday by a local daily newspaper about King Philippe of Belgium allegedly sidestepping President Nangolo Mbumba\u2019s call to lift the ban on Russian diamonds.<\/p>\n

The Presidency clarified that the front-page headline was sensational and fundamentally misrepresented the President\u2019s comments, which are also contained in a February 2024 letter to the G7 countries, co-signed with Presidents Joa\u0303o Lourenc\u0327o and Mokgweetsi Masisi of Angola and Botswana, respectively.<\/p>\n

Contrary to the inference and the misleading headline, Namibia cannot speak for the Russian Federation in its dealings with Belgium or the European Union.<\/p>\n

\u201cTherefore,\u201d the Presidency said, \u201cat no point did President Mbumba call for a lift on the ban of Russian diamonds by G7 nations. President Mbumba raised concern about the way in which the ban was to be implemented, with the sole concern about the unintended negative consequences for the economy of Namibia.<\/p>\n

President Mbumba highlighted his concerns regarding the potential economic impacts for Namibia, stemming from the G7\u2019s new regulations to require all non-Russian diamonds destined for the G7 to be routed through a single verification node in Antwerp, Belgium. Namibia objects to this new requirement, as Namibia is fully capable of certifying its own diamonds and is concerned that the \u2018single rough node\u2019 approach would increase transaction costs for Namibia and reduce the competitiveness of Namibian diamonds in the international market. This requirement therefore risks undermining Namibia\u2019s ability, as well as that of other African diamond producers, including Botswana and Angola, to trade their diamonds freely on the international market, particularly into the EU.\u201d<\/p>\n

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

Africa-Press – Namibia. NAMIBIA is fully capable of certifying its own diamonds and is concerned that the \u2018single rough node\u2019 approach introduced by the European Union (EU) would increase transaction costs for Namibia and reduce the competitiveness of Namibian diamonds in the international market, said the State House in a statement. The statement comes as […]<\/p>\n","protected":false},"author":84,"featured_media":68070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-68071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNamibia concerned that new EU approach would increase costs and devalue its diamonds - Namibia<\/title>\n<meta name=\"description\" content=\"NAMIBIA is fully capable of certifying its own diamonds and is concerned that the \u2018single rough node\u2019 approach introduce ...\" \/>\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\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namibia concerned that new EU approach would increase costs and devalue its diamonds\" \/>\n<meta property=\"og:description\" content=\"NAMIBIA is fully capable of certifying its own diamonds and is concerned that the \u2018single rough node\u2019 approach introduce ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-04T17:16:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-04T17:32:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/05\/sm_1714831272.293296.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Namibia concerned that new EU approach would increase costs and devalue its diamonds\",\"datePublished\":\"2024-05-04T17:16:28+00:00\",\"dateModified\":\"2024-05-04T17:32:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/05\/sm_1714831272.293296.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibia-concerned-that-new-eu-approach-would-increase-costs-and-devalue-its-diamonds\",\"name\":\"Namibia concerned that new EU approach would increase costs and devalue its diamonds - 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