The Minister of Mines and Energy, Tom Alweendo, is concerned about the G7 nations' proposal to ban the sale of Russian diamonds.

This, Alweendo says, could have implications for African diamond-producing countries, including Namibia.

Earlier this year, the G7 announced consideration to restrict the sale of non-industrial diamonds mined, processed, or produced in Russia by January 1, 2024, followed further by phase restrictions on the import of Russian diamonds processed in third countries by March 1, 2024.

The Minister of Mines and Energy, Tom Alweendo, says Namibia is concerned about these restrictions, as they would then require verification of all diamonds, whether rough, cut, or polished, entering the G7 and EU that take place through a "single node" in Antwerp, Belgium.

He stressed that this proposal of a single node could have a negative socio-economic impact on Namibia's economy and its competitiveness.

Alweendo stated that the proposal will add an additional regulatory layer, creating possible blockages and delays that could be costly.

He also emphasised that the proposal will undermine the Kimberley Process Certification Scheme, rendering it irrelevant.

The minister explained that the G7 proposal will also undermine the sovereign right to manage the trade of diamonds in the best interest of citizens and the economy.

Alweendo has called on the G7 nations to engage with all diamond-producing countries to discuss the proposed measures.