Botswana and Angola have taken decisive actions to support Western sanctions against Russian diamond exports by implementing traceability systems and certifying diamond origins. Botswana will start certifying diamonds in early 2025, while Angola severed ties with Russian investment by selling a stake in a joint venture with Alrosa. Both nations heavily depend on their diamond sectors for economic stability, aligning with global efforts to restrict Russian market access.
Significant developments have emerged following recent efforts by Botswana and Angola to reinforce Western sanctions on Russian diamond exports. Botswana has historically been the second-largest diamond producer globally, trailing only Russia, with Angola also ranking highly among the leading producers. To exclude Russian diamonds from Western markets, both nations are engaging in traceability measures designed to ensure diamond origins are transparently verified.
Last week, Botswana committed to certifying the origin of its diamonds, aligning with G7 initiatives aimed at restricting Russia’s diamond access to global markets. Beginning in early 2025, Botswana will implement a certification system established in collaboration with the Antwerp World Diamond Centre (AWDC). This new system will feature unique shipment identifiers, thereby minimizing the risk of Russian diamonds mixing with those from Botswana at key trading locations such as Dubai and polishing centers like Surat, India.
Angola has also actively severed its ties with Russian diamond interests, particularly following the sale of a significant stake in a joint venture previously owned by the Russian state-owned diamond company Alrosa. An Omani investment fund is set to acquire this stake, a decision deemed essential by Angola’s Mineral Resources Minister, Diamantino Azevedo, for preserving the country’s reputation in the global diamond sector. Both nations rely heavily on their diamond sectors, with Botswana’s diamond exports constituting 63% of its total exports in 2023, while Angola’s diamonds contribute nearly 10%.
The recent actions taken by Botswana and Angola are framed against a backdrop of heightened political and economic tensions stemming from Russia’s ongoing international conflicts. In response to these events, Western nations have imposed stringent sanctions on Russian diamond exports, a significant sector given that diamonds are one of Russia’s major export commodities. Both Botswana and Angola are positioned as critical players in the diamond industry, making their adherence to sanctions pivotal for global market dynamics. The initiatives established by these nations not only aim to protect their diamond industry integrity but also align with broader geopolitical strategies pursued by Western powers.
In conclusion, Botswana and Angola have embarked on crucial measures to support Western sanctions against Russia’s diamond industry. By implementing traceability systems and enhancing the certification of diamond origins, both countries are not only reinforcing their market credibility but also contributing to global efforts aimed at reducing reliance on Russian exports. These initiatives represent a significant shift in the international diamond trade landscape, reflecting the broader geopolitical implications of the current sanctions regime.
Original Source: euromaidanpress.com
