Botswana objects to G7-EU diamond-tracking system

Diamonds are seen during an exhibition in Gaborone, Botswana, November 23, 2015. [Reuters]

African diamond producers, led by Botswana, are demanding a review of the tracking and verification system that European Union and G7 nations introduced March 1.

Under the arrangement, diamonds entering EU and G7 countries - which represent 70% of the global diamond market - have to be sent to Antwerp, Belgium, for certification, in an effort to prevent the importation of sanctioned Russian diamonds.