The Central African Republic CAR has announced that it has successfully lobbied to lift a decade-long export embargo on its diamonds.
The Kimberley Process KP, the international regulatory body overseeing the global diamond trade, approved CARs request at its plenary session in Dubai. According to CARs Ministry of Mines, the KP has agreed to the total lifting of the sanction, marking a major milestone for the countrys diamond industry.
The decision was made during a four-day meeting held under the presidency of the United Arab Emirates.
The export embargo, imposed in 2013 during CARs civil war, was intended to prevent the sale of conflict diamonds, often referred to as blood diamonds. The ban crippled a lucrative trade, valued at approximately 50 million annually in 2011.
In recent years, CAR has been lobbying for the bans removal. Mines Minister Rufin Benam Beltoungou argued in September that security concerns had diminished and the country had established systems to meet the Kimberley Processs traceability requirements for diamonds.
