U.S. President George W. Bush recently signed legislation passed by the Congress that bans the import of illegal diamonds that finance civil wars in Africa. The law brings the United States under the international scheme called the Kimberley Process that prevents conflict diamonds from entering the legitimate stream of commerce.
“Diamonds are critical to the economic growth and development of African and other countries, so preserving their legitimate trade is an important foreign policy objective,” the President said in a statement.
The industry praised the President’s action. “The industry is proud to have played an active role in the progress achieved so far,” said a joint statement issued by World Diamond Council chairman Eli Izhakoff and executive director Matthew Runci.