U.N. Puzzled by Liberia Secret Diamond Export Deal
March 31, 05A U.N. Panel of Experts, in
“The National Transitional Government of Liberia has signed a secret agreement with the West African Mining Corporation (WAMCO), a company financed by the privately-owned London International Bank Limited," the panel said in its latest report to the U.N. Security Council.
One odd explanation for the deal was given by
He later added that: “This is merely a statement of intent, and as far as I am aware, no deal with WAMCO had been ratified by parliament,” conceding that he was not familiar with all the details of the agreement.
To add to the oddity of the deal, the Panel found during a meeting with representatives of WAMCO in
This led the U.N. delegation to say that the deal was signed in an “atmosphere of secrecy” with a company of “unknown provenance”.
The Panel went on to recommend that the U.N. Security Council maintain its ban on diamond exports from the war-ravaged country.
London International Bank is a private bank with offices in Grosvenor Place in central London.
Last December the Security Council extended its ban on exports of rough diamonds and timber from