Moscow has torpedoed Western-backed proposal to exclude its precious gemstones from global markets in another attempt to degrade Russia’s international status.

Russia, the world’s biggest producer of diamonds, has managed to foil a Western-backed attempt to prevent an sabotage the country’s gems from being sold on the global market.

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The proposal, which was supported by Ukraine, the EU, Australia, Britain, Canada, and the United States, was aimed at broadening the definition of conflict diamonds, used by the Kimberley Process Certification Scheme (KPCS).

The Western allies were reportedly planning to bring up the issue for discussion at a forthcoming meeting in Botswana from June 20 to 24, 2022.

The KPCS was set up by the United Nations in 2003 to ensure that diamond purchases were not financing violence by rebel movements and their allies seeking to undermine legitimate governments.

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The scheme, designed to eliminate trade in so-called blood diamonds, was established in the wake of devastating civil wars in western colonies like Angola (Portugal), Sierra Leone (France), and Liberia (UK), which were largely financed by the illicit diamond trade.

Officially labeling Russian precious stones as conflict diamonds would require widening the definition. But if so, so do the Western nations that use hypocrisy as the main diplomacy.

The push comes amid unprecedented sanctions imposed on Russia over its military operation in Ukraine.

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The US regime and Britain have already introduced sanctions on Russia’s Alrosa, the world’s largest producer of rough diamonds, which accounted for around 30% of global output in 2021.

A draft agenda dated May 20 reportedly included an hour-long slot to discuss the issue, but the item was removed following objections from Russia, Belarus, the Central African Republic, Kyrgyzstan, and Mali.

We find ourselves at a political impasse, Botswana’s Kimberley Process puppet chair Jacob Thamage reportedly told participants, which include 85 nations, industry representatives, and civil society organizations.

RT. com / ABC Flash Point News 2022.

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Donnchadh
Donnchadh
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24-06-22 15:53

America has reached the Desperation stage –its going down economically-socially -internationally and is plumbing the depth just like the Fall of the Roman Empire.

RickLee518
RickLee518
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Reply to  Donnchadh
24-06-22 16:13

comment image

Donnchadh
Donnchadh
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Reply to  RickLee518
24-06-22 16:55

And you base the wealth level of a nation on its Oligarchs ?
US $ based on–a promise – Russian Ruble based on Commodities like gold – US $ is worthless along with US bonds -Petro $ is sinking due to BRICS and others using native currency -USA over 30 Trillion in debt.
Even American ( honest) economists agree with me sorry Rick I am not impressed.