The European Union (EU) has expressed deep disappointment over the failure of the Kimberley Process (KP) to address the implications of Russia\u2019s war in Ukraine on the global diamond trade, marking the third consecutive year of inaction.<\/p>\n
The EU, in a statement released on 18th<\/sup> November, criticised the KP\u2019s inability to confront the issue, which has significantly eroded the process\u2019s credibility and tarnished the reputation of natural diamonds.<\/p>\n In response to Russia\u2019s continued obstruction, the EU, in coordination with the G7, has imposed a ban on Russian diamonds to curtail Moscow\u2019s ability to finance its war effort. The EU has also proposed a robust traceability and certification mechanism to assure consumers that they are not purchasing diamonds linked to Russia\u2019s aggression.<\/p>\n The EU strongly condemned the \u201cunfounded allegations made by the KP Chair\u201d against the EU\u2019s diamond ban. The EU asserted that such remarks undermine \u201cthe neutral and facilitating role expected of the Chair\u201d and contradict the long-standing spirit of the KP.<\/p>\n The EU said it remains committed to the KP and will continue to work towards its meaningful reform. The KP must effectively address conflict prevention, good governance, transparency in natural resource management, and the link between rough diamonds and conflict, it noted.<\/p>\n","protected":false},"excerpt":{"rendered":" The European Union (EU) has expressed deep disappointment over the failure of the Kimberley Process (KP) to address the implications of Russia\u2019s war in Ukraine on the global diamond trade, marking the third consecutive year of inaction. The EU, in a statement released on 18th November, criticised the KP\u2019s inability to confront the issue, which…<\/p>\n","protected":false},"author":1,"featured_media":28675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-28674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n