Botswana and Angola are working together to exclude Russian diamonds from Western markets through a certification system. Starting in early 2025, Botswana will certify its diamonds’ origins while Angola has moved to replace Russian investment in its diamond industry. These actions are part of broader G7 sanctions against Russia, vital for both nations’ economies.
Botswana and Angola have recently aligned their efforts to counteract Russian influence in the global diamond market, following Western sanctions against Russian diamond exports. As the second-largest diamond producer globally, Botswana has pledged to implement a traceability system to certify the origin of its diamonds, beginning in early 2025 in collaboration with the Antwerp World Diamond Centre. This initiative aims to clearly distinguish Botswana’s diamonds from those of Russia, thereby facilitating adherence to G7 mandates.
Similarly, Angola has made strides to sever its ties with Russian diamond interests, notably in a joint venture where Russia’s state-owned Alrosa previously held a significant stake. Angola has decided to have an Omani investment fund acquire this stake, a move underscored by the country’s Mineral Resources Minister, Diamantino Azevedo, as crucial for maintaining Angola’s credibility in the international diamond arena. Diamond exports are essential for both economies, significantly contributing to their national revenues.
The collaboration between Botswana and Angola is critical in light of their substantial contributions to the global diamond industry, particularly in the face of increasing pressure to limit Russian involvement in the market. Both nations recognize that their diamond sectors are integral to their economic stability, with Botswana’s exports comprising a remarkable 63% of its total exports in 2023 and Angola’s accounting for approximately 10%. The strategic efforts to implement certification and traceability systems are indicative of their commitment to aligning with international sanctions aimed at isolating Russia economically.
In summary, Botswana and Angola’s proactive measures to bolster their diamond sectors while distancing themselves from Russian influences demonstrate both countries’ commitment to international sanctions. By adopting robust certification systems and severing significant partnerships with Russian entities, Botswana and Angola are positioning themselves as responsible global partners, safeguarding the integrity of their diamond industries while contributing to broader geopolitical efforts against Russian market access.
Original Source: euromaidanpress.com
