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Diamonds in Conflict: Impact, Ethics - SRIRAM's Perspective



  Nov 20, 2023

Conflict Diamonds



Definition:

Conflict diamonds, also known as “blood diamonds,” are gems mined in war zones and sold to finance armed conflict against governments.

Geographical Concentration:

Predominantly found in Africa, where numerous conflicts have been fueled by diamond trade.

Supply Chain Concerns:

The illicit trade of these diamonds poses challenges for legitimate diamond markets and ethical sourcing.

International Efforts:

Initiatives like the Kimberley Process aim to stem the flow of conflict diamonds by certifying stones from conflict-free areas.

Economic Impact:

The presence of conflict diamonds depresses the value of legitimate diamonds and funds continued instability.

Policy and Regulation:

Global policies seek to regulate the diamond trade to prevent the sale and trade of conflict diamonds.

Peace and Ethical Practices:

Growing consumer awareness has led to increased demand for ethically sourced diamonds to promote peace and development.

SRIRAM’s


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