Alweendo calls on the G7 to review its decision on a ‘single node’ of diamond sales

Moderators: PinkDiamond, John

Post Reply
User avatar
PinkDiamond
Posts: 15600
Joined: Thu Jun 04, 2015 9:30 pm
Location: Ozark Mountains

Alweendo calls on the G7 to review its decision on a ‘single node’ of diamond sales

Post by PinkDiamond »

From observer24.com.na, I obviously agree with this man since I said the exact same thing when I posted the latest article on what was decided at G7 about Russian diamonds because having only one portal, or node as this man is apparently calling it, will cause a backup and a glut of countries waiting to have their diamonds certified as non-Russian. His concerns are justified, and I got a kick out of him saying the KP would be rendered irrelevant since I've been saying they're as useless as you-know-what on a bull (the program won't let me write t1ts :lol: ) for years, not being able to come to agreement on hardly anything. :roll:

If they insist on maintaining their one portal idea I don't think it will take long for the countries whose diamonds can't get through the pipeline to sue them. I'll keep you posted if they come to their senses and expand the number of portals, or nodes the diamonds can flow through. ;)

Alweendo calls on the G7 to review its decision on a ‘single node’ of diamond sales
Observer2 weeks ago
Stefanus Nashama


Image

"Tom Alweendo, the Minister of Mines and Energy, has called upon the G7 member states to reconsider their decision regarding measures to restrict the sale of Russian diamonds.

He urged them to engage with all diamond-producing countries to discuss the specifics of the proposed measures and their potential impact on economies and people’s livelihoods.

“We are deeply concerned about the potential consequences of these restrictive measures, as it is our understanding that all diamonds, whether rough, cut, or polished, entering the G7 and EU will be subject to verification through a ‘single node’ in Antwerp,” the Minister said.

According to Alweendo, in May of this year, the G7 announced its intention to consider measures to limit the sale of Russian diamonds and engage with key partners for effective implementation.

He added that this month, the G7 released its third statement on these proposed measures without involving stakeholders from the diamond-producing countries.

The Minister pointed out a key part of the G7 statement, which reads, “We 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.”

Alweendo believes that this approach will have a detrimental impact on the socio-economic growth of African diamond-producing countries, including Namibia.

He argued that the G7’s proposal of a single node would add additional regulatory layers, potentially leading to blockages and delays, resulting in increased costs.

Alweendo emphasized that this would harm Namibia’s competitiveness in the diamond industry.

Furthermore, the Minister expressed doubts about the G7’s proposal, asserting that it could undermine the Kimberley Process Certification Scheme and render it irrelevant.

“This would mean that the certification issued in Antwerp could effectively nullify our ability to authenticate our diamonds as non-Russian in origin,” he stated.

Alweendo also highlighted that such a proposal undermines Namibia’s sovereign right to manage the trade of its diamonds, a right that ... "
https://www.observer24.com.na/alweendo- ... ond-sales/
PinkDiamond
ISG Registered Gemologist


· ´¨¨)) -:¦:-¸.·´ .·´¨¨))
((¸¸.·´ ..·´ There are miracles left for you to do .... -:¦:- -:¦:-
-:¦:- ((¸¸.·´* It all begins inside of you. ;)
Post Reply