Antwerp, Belgium

Antwerp Diamond Trade Challenges Belgian PM on G7 Snactions

Belgium’s Prime Minister Alexander de Croo is being urged by De Beers and AWDC (Antwerp World Diamond Centre) to reconsider the decision to make Antwerp the exclusive entry point for diamonds into G7 countries, IDEX Online reports.


In an open letter, both organizations express their support for sanctions on Russian goods while highlighting the challenges faced by Antwerp’s diamond traders due to new regulations requiring the declaration of diamond origins. Introduced on March 1st, these regulations have led to delays of over a week in Customs clearance at Antwerp’s Diamond Office due to increased paperwork.


De Beers CEO Al Cook and AWDC Chairman Isi Morsel jointly wrote to the Belgian PM: “We are reaching out to kindly request your assistance in addressing these issues. Specifically, we appeal to you to reconsider any intentions of mandating that all diamonds bound for the G7 must pass through Antwerp. We would like to offer to work with your government to strengthen provenance certification, to underpin diamond supply to Antwerp and to support your leadership in delivering the G7 objectives.”


According to a related story by IDEX Online, diamond traders in Antwerp have reported significant disruption to supply chains following the latest sanctions, with many shipments taking over a week to clear customs. Traders said they were being assured by the AWDC before the March restrictions that goods would be cleared within 24 hours. On March 13, about 150 traders penned a letter to the AWDC calling for a “comprehensive review of procedures” due to increased expenses and customer losses.


antwerp diamond center belgium
Antwerp diamond center

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