Belgium continues to trade diamonds with Russia, despite all the sanctions against the country. This also happens with companies sponsoring the war in Ukraine, as research by the British newspaper The Guardian shows.
According to MEP Kathleen van Brempt of the Belgian Vooruit party, no less than 25% of all rough diamonds passing through Antwerp come from Russia. This is significant because Antwerp is a major center for the global diamond trade. However, Van Brempt thinks the city can do without trading with the Russians. “I don’t think Antwerp will lose that position if it stops the diamond trade.”
Lobby
Specific sanctions are now being worked out to also impose severe restrictions on the diamond trade with Russia. Van Brempt believes that Antwerp’s diamond merchants can handle this change, not least because they have already faced such a situation. “In the past we had ISIS trading blood diamonds from central Africa, thus funding all kinds of terrorist organizations. Antwerp therefore played a pioneering role. The city will now have to do it again, but we know that behind the scenes they are lobbying heavily against the enforcement of the sanctions. I find that problematic.’
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Several EU countries such as Poland and the Baltic states are calling for a ban on the diamond trade. The official position of the Belgian government is that it will not oppose such sanctions. But Van Brempt is under the impression that Antwerp’s diamond industry strongly opposes it and that lobbyists are also being listened to.
Effect
He points out that US and UK sanctions against Russian companies trading in rough diamonds have already had a significant effect. “We are only importing twenty percent of the previous number of Russian diamonds to Antwerp.” However, it is not true that the remaining 80 percent will now remain in Russia. ‘Mostly they end up on the market in the US through India and Dubai. That is why it is extremely important that the sanctions package in the G20 countries also extends to rough and polished diamonds. So there is still work to be done.’
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
