Advanced Search

EU Preps to Lift Sanctions on ZMDC

Sep 18, 2013 12:18 PM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Special interest leaks from the European Union (EU) signaled  that the governing body would be lifting sanctions on the Zimbabwe Mining Development Corporation (ZMDC), which controls Zimbabwe's minerals, next month. However, an official statement on the details and timing had not been released as of press time.  

The U.S. continues sanctions on ZMDC as well as on the Minerals Marketing Corporation of Zimbabwe (MMCZ), Marange Resources and Mbada Diamonds, meaning that U.S. businesses are forbidden to trade diamonds or minerals that fund, in any way, those companies or President Robert Mugabe's regime.

Belgium has been fiercely lobbying the EU since January to lift sanctions on ZMDC. The EU relaxed sanctions on some individuals in Zimbabwe in March and adopted a resolution to review sanctions on the ZMDC only after the passage of Zimbabwe's constitution, which occurred in May, and a smooth presidential election in July. It appears, at this stage, that the EU will maintain sanctions on Mugabe and nine of his associates.

Global Witness immediately criticized the EU, saying that Europe rushed to a decision without weighing evidence.
“Our research indicates that ZANU-PF and the military have siphoned revenue from ZMDC’s diamond ventures and that this may have financed the alleged rigging of the recent poll,” said the group's senior campaigner, Emily Armistead.

“There are credible indications that at least one ZMDC joint venture company helped fund ZANU-PF activities, which have undermined the democratic process in Zimbabwe. The EU should have given more time to investigating these claims before lifting sanctions. Now it will be left to European consumers and jewelry companies to ensure that Zimbabwe’s tainted diamonds are not sold in our shops.”



Tags: diamonds, European Union, Global Witness, Jeff Miller, sanctions, Zimbabwe, zmdc
Similar Articles
VenezuelaKimberley Process Re-Admits Venezuela
Nov 20, 2016
Venezuela will recommence exports of rough diamonds as members of the Kimberley Process (KP) unanimously agreed to end
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.