Thursday, June 26, 2008

Diamond regulator kicks out Venezuela

The office of the United Nations in charge of the certification of ''nonblood'' diamonds -- known as the Kimberley Process -- announced last week that Venezuela has been expelled from the treaties between diamond producing nations. Venezuela's expulsion resulted from that nation's refusal to register and certify an estimated 200,000 to 300,000 carats of the mineral. The uncontrolled exploitation and contraband of diamonds in Venezuela could result in an irrevocable expulsion from the certification process, as authorities on the matter are scheduled to meet next week in New Delhi. ''Venezuela has failed to comply for many years with the obligations established by the Kimberley Process,'' said Annie Dunnebacke, spokeswoman for Global Witness, an independent watchdog group based in London that monitors the global diamond market, adding that ``Venezuela must be expelled, because if not the entire process loses credibility.'' Among other factors, the Venezuelan government has not submitted reports concerning the exploitation and certification of diamonds, and ''is the only diamond producing country that is part of the KPCS that has not allowed experts to pay a visit for revision,'' Dunnebacke said. Venezuela has consistently denied accusations and, according to Global Witness, has offered to allow a visit by international experts some time this year.

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