Home breadcru News breadcru Association/Org breadcru UN renews sanctions on Liberian trade in 'Blood Diamonds'

UN renews sanctions on Liberian trade in 'Blood Diamonds'

22 Dec '06
3 min read

The Security Council renewed the sanctions aimed at preventing Liberia from exporting “blood diamonds” or resuming the trade in arms and called on Secretary-General Kofi Annan to reappoint the Panel of Experts overseeing the ban.

In a unanimous resolution, Council members agreed that although “sustained progress” has been made in Liberia since Ellen Johnson Sirleaf became President in January, the situation in the once war-torn West African country remained so fragile that it constituted a threat to regional peace.

The Panel of Experts' most recent report said the Liberian Government cannot yet demonstrate the internal controls necessary to meet the Kimberley Process Certification Scheme, the internationally agreed system designed to prevent blood diamonds from entering the market.

“Although most of the necessary components are now in hand, they still require final arrangement into a coherent and functioning mechanism with long-term durability and credibility,” the panel stated.

The experts added that Liberia's Ministry of Lands, Mines and Energy needs to exercise stronger leadership to achieve this objective.

Council members agreed to renew the sanctions for six months, with a review after four months, to give the Liberian Government sufficient time to establish a transparent and internationally verifiable regime for trade in the rough diamonds.

Sanctions have been in place since 2001 to stop Liberia's trade in diamonds, which were used for many years to finance wars against governments across Africa.

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!