Israel Diamond Exchange president Shmuel Schnitzer: We negotiate the large-scale import of rough diamonds only with authorized international sources.
Israel Diamond Exchange president Shmuel Schnitzer said the Israel Diamond Exchange would scrupulously check the sources of imported rough diamonds, following the decision to expand purchases of rough diamonds from private sources rather than the De Beers Syndicate. He said 80 more countries had signed the Kimberly Process Certification Scheme to prevent the trade in blood diamonds, used to finance terrorism and rebellions against democratic governments in Africa.
Rough diamonds will be transferred to members of the Israel Diamond Exchange or members of Israel Diamond Manufacturers Association (IsDMA), including dealers and marketers, which are all signatories to the Kimberly Process. Ministry of Industry, Trade and Labor Supervisor of Diamonds Udi Sheintal tightly monitors the origin of raw diamonds.
Schnitzer told "Globes", "Quantity will rise, but not the risk. Everyone with whom we negotiate to import larger quantities of rough diamonds than in the past are authorized and responsible international sources. There is no risk that increasing the supply will lead to Israel importing blood diamonds."
Schnitzer was responding to US President George W. Bush's signing an executive order recognizing the Kimberly Process, which requires monitoring the source of all diamonds.
Published by Globes [online] - www.globes.co.il - on August 3, 2003