(Rapaport…December 9, 2005) France proposed a diamond embargo on the Ivory Coast (Cote d’Ivoire) to the United Nations Security Council following ongoing evidence that diamonds are being used to buy weapons. The Security Council is set to vote on the measure in mid-December.
If the Security Council passes the resolution the embargo would take effect immediately and penalize anyone caught dealing in diamonds in the Ivory Coast. France has been at the forefront of peacekeeping efforts in a buffer zone dividing northern rebels from the South, which is under governmental control.
France’s ambassador Jean-Marc de la Sabiere said diamonds are being exchanged for arms, “So having an embargo on diamonds will help the peace process to go forward.”
The Kimberley Process chairman and the World Federation of Diamond Bourses have repeatedly warned the industry not to trade in diamonds from the Ivory Coast.