World Economy

UN Sanctions CAR Diamond Firm

UN Sanctions CAR Diamond FirmUN Sanctions CAR Diamond Firm

The United Nations imposed sanctions on a diamond firm in the Central African Republic (CAR) for undermining security. The firm allegedly provides support to armed groups in CAR’s ongoing conflict, DW reported. A UN sanctions committee imposed an asset freeze on Kardiam, a diamond trading house based in Antwerp, Belgium, which has been the major diamond trading hub worldwide for centuries. The sanctions experts say Kardiam is the Belgian arm of the CAR’s diamond trading company Badica. In addition to the asset freeze, the sanctions will make trade with the firm illegal. UN says the firm supports armed groups in CAR through illegal trading in diamonds and gold.