Botswana and Angola have initiated measures to diminish Russian influence in the diamond market by supporting Western sanctions. Botswana plans to implement traceability systems by 2025 to certify diamond origins, while Angola is divesting Russian interests to uphold its international reputation. Both countries rely heavily on diamond exports, with Botswana’s exports totalling 63% of its economy in 2023 and Angola’s making up nearly 10%.
In recent developments, Botswana and Angola have made significant commitments to endorse Western sanctions aimed at curtailing Russia’s diamond exports. As the second-largest diamond producer globally, Botswana has pledged to implement robust traceability systems, starting in early 2025, to certify the origin of its diamonds. The initiative, developed in collaboration with the Antwerp World Diamond Centre, aims to prevent Russian diamonds from entering Western markets by assigning unique identification numbers to shipments.
Similarly, Angola has announced plans to relinquish its association with Russian diamond interests by divesting a significant stake previously held by Russia’s state-owned Alrosa in a joint venture. This decision, highlighted by Angola’s Mineral Resources Minister, Die Vina Azevedo, is deemed essential for safeguarding the country’s reputation within the international diamond market. Both nations depend heavily on their diamond sectors, with Botswana’s diamond exports accounting for a substantial 63% of its total exports in 2023, while Angola’s diamond sales contribute nearly 10% to its economy.
The ongoing geopolitical climate has prompted countries involved in diamond production to reassess their trade relationships, particularly those linked to Russia. Following the imposition of sanctions against Russia, countries such as Botswana and Angola have recognized the necessity of distancing themselves from Russian enterprises to enhance their credibility and market stability. With the diamond industry being a cornerstone of their economies, both nations are taking measures that align with international efforts to isolate Russia economically.
In conclusion, Botswana and Angola are actively reinforcing their diamond industries by adopting measures that support Western initiatives against Russian exports. By establishing traceability systems and severing ties with Russian enterprises, both countries seek to enhance their international standings and safeguard their economic interests within a turbulent global marketplace. These movements signify a broader response to the challenges posed by Russian influence in the diamond trade.
Original Source: euromaidanpress.com
