The diamond trade is today faced with arguably the biggest crisis since the blood diamond controversy of the late 1990s. Once again this has to do with widespread concern that proceeds from mining and trading this precious symbol of eternal love are being used to finance conflict. This time the source of controversy are Russian diamonds, which represent about one third of the global production, an
Russia’s invasion of Ukraine, which began on February 24, 2022, has led to an unprecedented proliferation of economic sanctions designed to hit Russia’s economy and drain the resources of the Russian war chest. Among these are efforts to ban Russian diamonds from Western markets. Early October, at a meeting in Brussels with Ukraine’s President Zelensky, Belgian Prime Minister de Croo stated that t
This IPIS Insight provides background and context to Zimbabwe’s current Kimberley Process chairmanship, both historically and in light of whether it might present opportunities for government and corporate actors in the country to exorcise their demons.