Botswana and the G7 have announced plans to increase transparency in the diamond trade. A new certification node will help prevent diamonds of Russian origin from entering G7 markets.
The G7 import ban on diamonds of Russian origin began on 1 January 2024. On 1 March 2024, Russian diamonds processed in third countries were also banned in G7 jurisdictions.
On 1 March 2024, the first certification node capable of certifying the origin of rough diamonds and issuing G7 certificates became operational in the EU. Following this, the G7 diamond technical team and Botswana strengthened co-operation on enhancing traceability and transparency in the diamond trade.
In order to enhance Botswana’s capacity to certify rough diamonds for export, prevent Russian-made diamonds from entering G7 markets and ensure compliance with G7 requirements to ensure traceability throughout the supply chain, the Belgian and Botswana teams conducted a comprehensive gap analysis that assessed existing frameworks and identified areas requiring further harmonisation.
As a result, Botswana and the G7 diamond technical team have prepared a roadmap to address the identified gaps and aim to have the export certification node fully operational in Botswana as soon as possible next year.
The establishment of this certification node will strengthen Botswana’s position as a responsible global leader in diamond production and provide assurance to international buyers and stakeholders.
