A Delicate Coast of Diamonds
April 13, 11Some good news came out of
As long as there was no recognized government, and the forces in the north were considered rebels, the UN's Security Council imposed a number of embargos on the country, including on arms and diamonds. According to some estimates, about one million carats of diamonds are mined in the country annually. With a full embargo in place and no evidence of any stockpiling, the country's full production is believed to be smuggled out to its neighboring countries:
The last report of the Group of Experts on
Political unrest gives ground to smuggling. The West African region is known for its poor border controls and diamonds are moved around with no restrictions.
A source closely familiar with the situation told us that the smaller goods are smuggled into
The interesting diamonds, 2 carats and above, including 5 ct, 10 ct and even bigger stones, are smuggled mainly into
So the question is, as the elected president is taking his seat, what will the UN do when the sanctions are reviewed - the embargo expires at the end of this month. Will it be extended? The logical step is to support the country, allow it to benefit from diamond revenues, and stifle the smuggling.
The UN, however, is anything but logical. Consider this: the group of experts states on- and off-record that there are no human rights violations involved in the diamond mining in the north. Further, the UN calls the elected president and his supporters 'rebels', even though the UN recognized the election's outcome. Therefore, as long as they are still in the country, are they really conflict diamonds?
The situation is fresh. It's not clear if Gbagbo's supporters will let go of their power. "The question is who is going to take control of the north," the insider said. The integration – of two governments, revenues, military and military commanders – into one cohesive unit is a big issue. Are NF commanders willing to give up their fat income from diamonds? Will big traders from
In its recommendations, the group of experts urges the Ivorian Ministry of Mines, with the assistance of FN commanders, to keep track of diamond production and sales, including the names of buyers, price and carat weight. It also urges the World Federation of Diamond Bourses (WFDB) to monitor and prevent those convicted of trading in illicit diamonds from trading with WFDB members. Finally, it urges Government authorities in
Even big organizations tend to deal with only one crisis at a time. With
Have a peaceful weekend.