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Alrosa Euros
Alrosa Testing Payments in Euros
Alrosa has begun accepting payments in euros, as it continues to test the waters with currenciesother than dollars. The move, which currently extends to only one of its Chinese clients, is an attempt to avoid theconsequences of future US sanctions on the...
Rough Markets Mar 14, 2019 Rapaport News
Alrosa rough
US Sanctions on Russia: Diamond Impact Unclear
US President Donald Trump has said he intends to sign off onsanctions against Russia, but the diamond trade is still in the dark over how themove could affect the industry. The Belgian market bought $2.1...
Rough Markets Aug 01, 2017 Joshua Freedman
CAR Central African Republic
U.S. Sanctions Belgium-Based Trader for CAR Exports
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on August 21 sanctioned two companies, Belgium-based Kardiam and Central African Republic (CAR)-based Badica, for providing support to militia leaders responsible for violence...
Rough Markets Aug 24, 2015 Rapaport News
Zimbabwe Wins First Round in Return of Antwerp Diamond Proceeds
The Court of First Instance in Belgium ruled that approximately $45 million in proceeds from a Marange diamond tender that was held in Antwerp three months ago may be released to Zimbabwe, but not before late next...
Financial-Legal Dec 08, 2014 Jeff Miller
zim sm
Zimbabwe Requires ZMDC to Publish Financial Statements
Zimbabwe has been working toward greater financial transparency and, in particular, tracking diamond dividends as part of a long term economic development agreement with the International Monetary Fund. Given this, the country's Finance and...
Mining Dec 02, 2014 Jeff Miller
ALROSA Redeems $500M in Eurobonds
ALROSA, the Russian diamond miner, announced it had paid off $500 million of outstanding company Eurobonds, reducing its debt-load to $3.7 billion. The bonds were originally issued by the company between November 2004 and...
Mining Nov 18, 2014 Ronen Shnidman
zim sm
OFAC Adds Sino Zim and Sam Pa to Sanctions List
The U.S. Treasury's Office of Foreign Assets Control (OFAC), which lists specially designated nationals and blocked persons, all of whom U.S. citizens and business must avoid when conducting business transactions, added Sino...
Rough Markets Apr 17, 2014 Jeff Miller
ALROSA's Udachniy mine
Diamond Industry Implications From Ukraine Crisis
It is not unusual for international geopolitical events to have an influence on the diamond industry. The diamond industry depends on several factors such as economic stability, the need of producing-countries to generate income from their natural minerals, the...
Financial-Legal Apr 07, 2014 Isi Morsel
EU Lifts Sanctions on Zimbabwe Mining Development Corp.
Press release: Today the Antwerp World Diamond Centre (AWDC) received noticed from the Federal Public Service Economy that European Union (EU) sanctions on the Zimbabwe Mining Development Corporation (ZMDC) were lifted....
Rough Markets Sep 24, 2013 AWDC
Marange DMS Plant
EU Preps to Lift Sanctions on ZMDC
Special interest leaks from the European Union (EU) signaled that the governing body would be lifting sanctions on the Zimbabwe Mining Development Corporation (ZMDC), which controls Zimbabwe's minerals, next month. However, an official...
Fair Trade Sep 18, 2013 Jeff Miller
U.S. Extends Myanmar's Ruby, Jadeite Ban
President Barack Obama extended a ban on the import of rubies and jade from Myanmar through an executive order issued on August 7, 2013. The renewed ban reflected the Obama administration's growing concerns regarding Myanmar's military...
Financial-Legal Aug 08, 2013 Deena Taylor
UN Renews Diamond Sanctions on Cote d'Ivoire
The UN Security Council unanimously renewed diamond sanctions and an arms embargo on Cote d'Ivoire for another year as the West African nation continues to battle with security issues. The council stated that all parties shall take the necessary measures to prevent the direct or indirect supply,...
Fair Trade Apr 26, 2013 Jeff Miller
EU Keeps Sanctions on ZMDC, Eases Restrictions on Others
Following what it called a successful constitutional referendum in Zimbabwe, the European Union (EU) further relaxed sanctions on the African nation. In a declaration posted by the High Representative, Catherine Ashton, on behalf of the EU, Zimbabwe was congratulated...
Fair Trade Mar 25, 2013 Jeff Miller
Click to play
EU Rewards Progress in Zimbabwe
The European Union's (EU) Foreign Affairs Council voted to ease some restrictions on Zimbabwe ahead of its constitutional referendum vote in March. EU sanctions are reviewed annually and this year Belgium lobbied to strike the Zimbabwe...
Fair Trade Feb 20, 2013 Rapaport News
Marange Rough
Global Witness Welcomes Continued EU Sanctions on ZMDC
Global Witness welcomed the European Union's (EU) decision to keep the Zimbabwe Mining Development Corporation (ZMDC) on the list of sanctioned businesses, at least for now. One week ago, the group requested the EU add...
Fair Trade Feb 19, 2013 Jeff Miller
EU Flag
EU Eases Sanctions on Zimbabwe
The foreign affairs council of the European Union (EU) suspended a travel ban on six members of Zimbabwe's government and agreed to remove 21 people and one company from its sanctions list. The names were not...
Fair Trade Feb 18, 2013 Jeff Miller
UN Peace Keepers in Cote d'Ivoire
U.N. Extends Rough Diamond Ban on Cote d'Ivoire
The U.N. Security Council renewed a ban on rough diamonds leaving Cote d'Ivoire for another year, which extends through April 30, 2013. The measure was largely expected, but the Security Council did...
Rough Markets Apr 26, 2012 Jeff Miller
Cote d'Ivoire Flag
UN to Renew Diamond Embargo on Cote d'Ivoire
The UN Security Council will likely renew sanctions on Cote d'Ivoire next week due to ongoing violations and diamond smuggling occurring there, according to U.S. Ambassador Susan E. Rice, who chairs the council. ''Current UN sanctions...
Rough Markets Apr 18, 2012 Jeff Miller
Clinton Praises Reform in Myanmar, Sanctions Remain for Now
The following statement was issued by U.S. Secretary of State, Hillary Rodham Clinton, in support of Myanmar's (also known as Burma) democratic reforms. From the beginning of this administration, we have pursued a policy of engagement to support human rights...
Financial-Legal Apr 04, 2012 U.S. State Department
Robert Mugabe
HRW Urges European Union to Keep Pressure on Mugabe
Human Rights Watch (HRW) urged the European Union to maintain travel restrictions and asset freezes on President Robert Mugabe and his inner circle until Zimbabwe carries out human rights reform measures. The...
Fair Trade Feb 17, 2012 Jeff Miller
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