Mbumba addresses G7 restrictions on Russian diamond trade
Written by on April 30, 2024
President Nangolo Mbumba has spoken out against the G7 importation ban of all non-industrial diamonds mined, processed and produced in Russia, which launched a war against Ukraine in February last year.
Belgium is responsible for the ban’s implementation.
President Mbumba told Belgian King Philippe the ban will be “detrimental” to Namibia’s diamond trade and will have a negative economic impact on African diamond-producing countries.
“This decision poses a serious risk and threat to our economies (Angola, Botswana and Namibia) by increasing costs, as well as curtailing the freedom of trade for our countries,” Mbumba said.
President Mbumba wants the G7 to find a solution to achieve their aim without impacting African supply chains.
“In that vein, we have requested for urgent dialogue to find a mutually beneficial solution. We hope to count on your support and the understanding of the kingdom of Belgium,” Mbumba said.
Russia can no longer export diamonds directly or indirectly to the G7 members. The G7 consists of seven member states: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Additionally, the European Union is a “non-enumerated member”.
King Philippe arrived late on Monday for a four-day state visit to Namibia, with the majority of his time to be spent in the Erongo region to tour port facilities and green hydrogen sites.
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