IVORY COAST: United Nations set to lift ban on diamond exports Last Friday, the United Nations Security Council voted to partially ease a decade-long ban on diamond exports in Ivory Coast. UN experts claim the current diamond ban fails to stop illicit trafficking of rough diamonds. Ivory Coast received a positive review in November from the Kimberley Process which works to prevent the sale of blood diamonds from fueling armed conflict. Despite positive reviews, UN experts tasked with monitoring compliance of the diamond ban continue to report ongoing violations. Comment: In October, experts estimated the annual value of the illicit diamond trade to be between USD 12 to 13 million. Before the embargo, Ivory Coast produced about 300,000 carats of diamonds a year, valued at around USD 25 million. Ivorian authorities have said they would like to restore the sector to fund post-war reconstruction.
Posted on: Sat, 03 May 2014 16:53:56 +0000
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