As UAE Hosts Kimberely Process, Participants Push for Broader Definition of Conflict
May 21, 2025— This year, the UAE shone as a top diamond trader as it hosted the annual Kimberley Process meeting in Dubai.
As one of the world’s top traders in diamonds, the United Arab Emirates has an interest in the regulation of the trade to ensure it runs smoothly. Some stakeholders worry that interest will hinder efforts to strengthen protections.
In the closing session, Ahmed Bin Sulayem, the UAE’s chair of the process, highlighted the country’s trade of over 1.06 billion carats in diamonds, an amount making the Dubai “the largest rough diamond hub in the world.”
“We need the Kimberley Process to remain focused, so that all of us can continue to support trade growth, resilience and development,” Bin Sulayem said.
A Key Hub
The UAE is a key hub for the diamond market. It joins India, Belgium, Russia, and Botswana as one of the world’s top exporters. Furthermore, it also ranks high as a diamond importer, along with India, the United States, Hong Kong, and Belgium.
Diamonds are central to the UAE’s growth narrative, according to Safeya Hashem Al Safi, an acting assistant undersecretary in the UAE’s Economic Ministry.
“From humble beginnings, Dubai has grown to become the world’s leading rough diamond trading hub – a position it continues to hold despite recent pressures on diamond prices,” she said at the conference.
What the Kimberley Process Is
Established in 2003 as a multinational framework, the Kimberley Process aims to prevent traders from buying and selling unregulated rough “conflict diamonds.” It came about in the aftermath of civil wars in Angola, Sierra Leone and Liberia. However, its reach is somewhat limited. For example, the definition of conflict is limited to rebel groups financing conflicts against governments.
Critics Say Conflict-of-Interest Clouds the Process
Some industry leaders say the process should do more to ensure diamonds sold in the market are sourced ethically.
For example, M’zée Fula Ngenge, chairman of the African Diamond Council, wrote in CNBC Africa:
“At the heart of the KP’s internal challenges lies a leadership crisis characterized by poor decision-making, a lack of strategic vision, and instances of unethical behavior at the highest levels of governance.”
In March, the UAE’s chair Ahmed Bin Sulayem defended his oversight of the regulatory framework as a chair of the Kimberley Process. Writing in CNBC Africa, Bin Sulayem said:
“Let me be absolutely clear: The Kimberley Process was never designed to be a global financial watchdog, an anti-money laundering agency, or a tax enforcement mechanism. Expecting the KP to solve challenges outside its jurisdiction is as illogical as blaming Interpol for failing to regulate corporate tax fraud.”
African Producers Push for a Broader Definition of Conflict
Producers in African countries say the definition of “conflict diamonds” does not go far enough. They are calling on participants to expand it beyond rebel movements to include armed groups, individuals, and entities that could be subject to sanctions by the United Nations Security Council. They are organized in the intergovernmental group called the African Diamonds Producers Association.
The United Kingdom endorsed the broader definition, saying it is needed to “ensure that the Kimberley Process remains relevant to emerging challenges.”
In 2019 and 2021, UN peacekeepers came under scrutiny for allegedly trafficking diamonds, gold, and drugs from the Central African Republic.
Russia’s Diamonds
Russia’s diamonds, for example, are legal under the Kimberley Process despite its war against Ukraine. The European Union, the United States, and the United Kingdom limit purchases of Russian diamonds under sanctions and other regulatory restrictions. Meanwhile, other countries, including India, the UAE, Hong Kong, Israel, and China, are purchasing Russian diamonds. It’s noteworthy that Russia takes part in the Kimberely Process and also engages on the topic in the United Nations.
New Digital Tool ‘Verifico’ Joins Fragmented Field For Tracing Diamonds
At this year’s event, the UAE introduced a digital tool called Verifico to certify diamonds in e-commerce businesses. It joins a field of other traceability tools, including the African producers-backed Authentia and De Beers’ Tracr. These technologies track each diamond along the supply chain after recording its unique characteristics, such as clarity, cut, and carat, on a blockchain.
