Central African Republic Faces Kimberley Process Embargo

The Wall Street Journal reported that the Kimberley Process has recommended a temporary embargo on the Central African Republic after a rebel coup occurred in the country in March. Alluvial diamonds are a main source of funding for the nation.

As quoted in the market news:

The Kimberley Process, the multinational body tasked with stopping the trade in blood diamonds, has advised member states and the diamond industry to stop accepting exports from the Central African Republic until a fact-finding mission can be sent to the country to fully assess the situation, said a senior government official from an African diamond-producing nation that spoke on condition of anonymity as the announcement hasn’t yet been made official.

Click here to read the full report from The Wall Street Journal.