ABN Amro Not Boycotting Zimbabwe Diamonds

 Israeli Diamond.com reports that ABN Amro clarified recent statements made stating that they would refuse financing for transactions with Zimbabwe diamonds.  He said that, although the company is willing to aid with the Zimbabwe diamond industry, that ABN Amro is a European bank, and therefore must comply with European regulations.

The story is quoted as saying:

Van Der Kwast’s statements in Mumbai had been echoed by Pierre de Bosscher, chairman of the executive committee of the Antwerp Diamond Bank (ADB). Both officials said that dealing with Zimbabwe diamonds presented a “reputational” concern for their banks, with de Bosscher adding that ADB would not deal directly or indirectly with Zimbabwe so long as OFAC sanctions remained in place.

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