Antwerp Bourse Clarifies Confusion Over Name of UN Sanctioned Business

(IDEX Online News) – The Antwerp Bourse - Beurs Voor Diamanthandel – has issued a letter of clarification concerning Central African Republic (CAR) diamond trading firm Badica and its Belgium-based branch, Kardiam. The companies were placed on a UN sanctions list for giving support to armed militia groups on both sides of the ongoing conflict in the country.

The letter said that the firm, Kardiam BVBA, should not be confused with Kordiam BVBA, and that they are not linked either financially or legally. It also explained that Kordiam is operated by Serge Korn.  

A recent UN panel on illegal diamond trafficking determined that the ongoing conflict in the Central African Republic (CAR) is still being partially funded by the practice. The Kimberley Process (KP) banned the export of rough diamonds from CAR in 2013, though there have been reports that at least a partial lifting of sanctions may begin soon.