WFDB supported the goals of the G7 sanctions

Jun 11, 2024

The World Federation of Diamond Bourses (WFDB) commends the Antwerp World Diamond Center (AWDC) for its call for multiple verification points outside the G7, in implementation of the G7 Russian diamonds sanctions.

The AWDC issued this call in a statement on May 24, 2024, thus effectively aligning itself with the position of the other major industry groups – the WFDB, WDC, GJEPC and IDMA – whose joint statement of February 28, 2024, detailed the potential detrimental effects of the “one import node” on the industry.

WFDB President Yoram Dvash said that he was very gratified that the major industry organizations were now in agreement concerning the G7 sanctions scheme. “I want to thank the AWDC Board for issuing this statement, and especially President Isi Morsel for his leadership.”

Dvash stressed that the WFDB supported the goals of the G7 Russian diamond sanctions, and he was confident that the parties would reach an efficient and transparent solution causing minimal disruption to the diamond industry.

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