Rapaport bans Zimbabwe Diamonds
Diamond trading network RapNet has warned that it would expel any of its members, which knowingly offer diamonds mined at the Marange diamond fields in Zimbabwe, for sale.
This was despite the Kimberley Process (KP) having allowed Limited diamond exports from the Marange diamonds fields to resume, following a suspension earlier this year. RapNet parent company, the Rapaport Group, informed members in a trade alert notice on its website that, while the trading of Marange diamonds was legal in some jurisdictions, it was still illegal for US, European Union (EU) and UK citizens or entities to knowingly trade in these diamonds, owing to government sanctions.
“We strongly urge members to contact their suppliers and obtain written assurances that they are not being supplied Marange diamonds. US, UK and EU members may have a [continue reading]