WDC Implements Steps Against Conflict Diamonds

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(Rapaport…July 19, 2000) At the World Diamond Congress in Antwerp, the International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses outlined measures to stop the trade of conflict diamonds.

The steps include: the certification and global regulation of all legal rough; national legislation from importing and exporting countries mandating the acceptance of this certified rough; and the application of both criminal charges and banishment from all World Federation Diamond Bourses for any diamantaire found trading in conflict diamonds.

Sean Cohen, president of the IDMA, said that the industry should be able to establish the sanctions by the end of the year and that, “the next step is for various governments to enact legislation. Hopefully, it can be enacted even sooner than Christmas,” he added.

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