Diamonds Update

Russia is willing to contribute more to the Kimberley Process’ bid to stem the flow of conflict diamonds across the world, Finance Minister Alexei Kudrin, who also serves as chairman of the supervisory board of state-owned uncut diamond monopoly Alrosa, said on Tuesday, Nov. 15

Kudrin, quoted by RIA Novosti, highlighted the country’s prominent role in the Kimberley Process as the world’s largest producer of uncut diamonds. He was speaking to a Moscow plenary session of the organization, set up to prevent illegally mined “blood diamonds” from being sold to finance regional armed conflicts and transnational terrorism.

The trade in illicit rough diamonds contributed to devastating rebel wars against legitimately elected governments in African countries such as Angola, the Democratic Republic of Congo and Sierra Leone.

Read the rest of the story at http://www.mosnews.com/money/2005/11/15/russiadiamonds.shtml