Israeli regulator denies trading in blood diamonds

Israeli regulator denies

By
October 29, 2009 17:45

 
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Israel's chief diamond regulator on Thursday rejected claims in a UN report that Israeli companies may be illegally trafficking diamonds from the Ivory Coast. Diamond controller Shmuel Mordechai said he was shocked by the allegations, and that Israel has strict safeguards on diamonds entering the country. Mordechai said Israel trades diamonds only with countries that honor the so-called Kimberley Process, an international certification standard that protects consumers from buying diamonds used to fuel wars. A recent UN report recommended that Israel investigate whether its nationals had been involved in illegal diamond exports from the Ivory Coast. Israel exported $6.2 billion dollars of polished diamonds last year, accounting for some 40 percent of the global diamond trade.

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