Zerouki's Rallying Call for G7 Diamond Protocol
November 09, 23
(IDEX Online) - Feriel Zerouki, president of the World Diamond Council (WDC) has insisted that the G7 Diamond Protocol would be a fair and equitable method of outlawing Russian diamonds.
She was addressing delegates this week at the Kimberley Process plenary meeting at Victoria Falls, in Zimbabwe.
The WDC, which counts De Beers among its members, is proposing a largely self-regulated ban, with diamond dealers declaring that any stone over 1-ct is not from Russia. It would be enforced by spot checks and third-party audits.
A rival system, promoted by Belgian traders, would certify polished stones over 1-ct (or 1.4-ct rough) as non-Russian using third-party blockchain, with all goods channeled through a single entry point into G7 countries. India and France have also put forward their own proposals.
Zerouki, senior vice president of corporate affairs at De Beers Group, has taken over at WDC from Edward Asscher and will serve for three years.
In her first KP plenary address as president, she said the G7 Diamond Protocol would be "accessible for all, including artisanal miners, small and medium players in the informal and formal sector, as well as large players in the formal sector that have technological and other pragmatic solutions at their disposal, that could also be used for these purposes.
"Responsiveness, collaboration, advocacy, adaptability, and open dialogue have been the industry's strength in challenging times.
"The WDC has, therefore, leaned on those same strengths to enlighten the G7 about the complexity of the natural diamond value chain and possible unintended consequences, while raising awareness of our commitment to ensure that no one is left behind.
"The result of these multiple consultations has been the WDC-facilitated G7 Diamond Protocol, a proposal submitted to the G7 by industry, which
respects and builds on the role of Government Diamond Offices that carry out the Kimberley Process work."
Photo of Feriel Zerouki by Ann Van de Voorde Photography