The United Nations Security Council has blacklisted the Belgian branch of the Central African Republic’s diamond trading company. It also included three other individuals who played major roles in the 3 year civil war that plunged the country into chaos.
U.N. sanctions experts say Kardiam in Antwerp, is the Belgium-based operation of the Central African Republic’s diamond-trading company Badica. Under the sanctions, the diamond firm’s assets are to be frozen and doing business with the company will be illegal, while the three individuals are facing travel bans and asset freezes.
Central African Republic was a major exporter of diamonds until May 2013, when a group of 81 countries, including all the major diamond producers, formed the Kimberley process banning shipment of its rough diamonds to prevent so-called blood diamonds from funding conflict.
