India bans rough diamond trade with Venezuela
Thursday, 4 December 2008
NEW DELHI, Dec 3 (PTI): India has banned trade of rough diamonds with Venezuela following the withdrawal of the south American nation from an international protocol that disallows illegal trade of the precious stone for funding strifes.
"The import or export of rough diamond from or to Venezuela shall be prohibited in view of voluntary separation of Venezuela from the Kimberley Process Certification Scheme," Directorate General of Foreign Trade said here.
Kimberley Process Certification Scheme is an agreement between 74 countries, disallowing trade of precious stones for financing conflicts in different parts of the world.
"The import or export of rough diamond from or to Venezuela shall be prohibited in view of voluntary separation of Venezuela from the Kimberley Process Certification Scheme," Directorate General of Foreign Trade said here.
Kimberley Process Certification Scheme is an agreement between 74 countries, disallowing trade of precious stones for financing conflicts in different parts of the world.