Namibia: G7's Proposal to Route Diamonds to the EU through a Single Entry Point Anticipated to Incur High Costs

Namibia's government objects to G7 plan of channeling diamonds to the EU via a single entry point, citing expected high costs and complications
Namibia: G7's Proposal to Route Diamonds to the EU through a Single Entry Point Anticipated to Incur High Costs

Tom Alweendo, the Minister of Mines and Energy, urges G7 nations to reconsider their impending plan set to take effect on January 1, 2024. Alweendo expressed deep concern over the potential consequences of these restrictive measures, emphasizing that all diamonds entering the G7 and EU, regardless of being rough, cut, or polished, would undergo verification through a 'single node' in Antwerp.

The minister is worried that Namibia, the world's eighth-largest diamond-producing country, will face additional delays, regulations, and costs due to the proposed system. Alweendo also highlighted concerns about how these new sanctions could undermine the authority of the Kimberley Process Certification Scheme.

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