International Diamantaires Unite at the Antwerp World Diamond Centre
By Mewati Sitaram
On August 27, 2024, 230 diamantaires from both domestic and international backgrounds gathered at the Antwerp World Diamond Centre (AWDC) within the Antwerp Diamond Bourse for an important information session. The session, hosted by the AWDC in collaboration with the FPS Economy and Customs, addressed the new phase of G7 sanctions set to take effect on September 1.
The primary focus of the session was the practical application of the Grandfathering Principle. This new measure will enable diamond companies to regularize their existing stock of diamonds, whether of Russian or unknown origin, in light of the updated sanctions. hashtag#Grandfathering
All attendees were deeply appreciative of the Antwerp World Diamond Centre for their enthusiasm and commitment. The Centre’s efforts provided valuable and practical insights that thrilled everyone involved.
The Antwerp World Diamond Centre (AWDC) has developed a comprehensive webinar on the Grandfathering Principle, along with a detailed procedure document featuring scenarios, step-by-step instructions, and examples to support diamond companies. Additionally, AWDC has introduced a new digital transaction template and a user-friendly decision tree. These resources are now available on their website: https://bitly.cx/KZIf1.
This update was shared by His Excellency Frank Geerkens, Consul General of Belgium in Mumbai, via his LinkedIn. He represents Belgium across several Indian states, including Maharashtra, Tamil Nadu, Gujarat, Karnataka, Madhya Pradesh, Andhra Pradesh, Telangana, Kerala, Odisha, Chhattisgarh, and Goa.
Editor in Chief : Mewati SItaram
