Following complaints from traders about lengthy customs clearance times, which previously exceeded a week, the Diamond Office in Antwerp reports a “dramatic decrease” in delays, IDEX Online reports. New G7 sanctions imposed on March 1st now mandate importers to provide documentary evidence for the origin of any diamond weighing 1-carat or more.
Ari Epstein, CEO of AWDC (Antwerp World Diamond Centre), credits recent initiatives for the improved efficiency, with waiting times consistently falling below the 24-hour threshold for shipments accompanied by complete files. Incomplete files have decreased dramatically from 90% to less than 15%. All diamonds entering the EU are now routed through Antwerp’s Diamond Office.
In related news, during a meeting of the African Diamond Producers Association (ADPA) in Zimbabwe, African diamond producers called the new G7 sanctions a “lose-lose situation,” particularly critiquing the decision to route all EU-bound diamonds through Antwerp. The ADPA represents 19 nations responsible for 60% of the world’s diamonds, including Botswana, Angola, South Africa, the Democratic Republic of Congo, Zimbabwe, and Namibia.
Lefoko Moagi, Botswana’s minister of mineral resources, said that routing all EU-destined diamonds though a single entry point in Antwerp will create “a logistical nightmare for producer countries.” Zimbabwe’s President Emmerson Mnangagwa told the gathering: “We are an independent continent, and those from overseas must talk to us as equals and respect us,” adding that “restrictions on the trade being imposed by some market players are unacceptable.”
