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U.S. Sanctions Belgium-Based Trader for CAR Exports

Aug 24, 2015 2:03 AM   By Rapaport News
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on August 21 sanctioned two companies, Belgium-based Kardiam and Central African Republic (CAR)-based Badica, for providing support to militia leaders responsible for violence and threatening the peace, security, or stability of the CAR through the illicit trade in natural resources, according to department announcement.

Badica is one of the largest diamond companies in the CAR and Kardiam is Badica’s branch in Antwerp, Belgium, according to the Treasury announcement.

In May 2013, the Kimberley Process prohibited the export of diamonds from the CAR due insurgents’ control over diamond mining areas. Badica buys rough diamonds from mines that are under insurgents’ control and smuggles them out of the country for export to Kardiam, the Treasury Department noted.

Note: This article has been updated to clarify the location and name of the sanctioned trading office.
Tags: Blood Diamonds, Fair Trade, Rapaport News, sanctions
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