Antwerp World Diamond Center CEO resigns amid Russian diamond sanctions

Antwerp World Diamond Center (AWDC) CEO Ari Epstein unexpectedly resigned on Thursday, the AWDC board of directors said in a statement.

A spokesman for AWDC, Belgium's main diamond industry group, said on Friday that Epstein, who had been CEO for 13 years, did not wish to give a reason for his sudden departure, but Belgian financial newspaper De Tijd reported that Russian sanctions on diamonds had been the cause of conflict between the diamond sector and the Belgian government.

AWDC did not say who would replace Epstein as executive director. Epstein did not immediately respond to a request for comment sent via LinkedIn.

Following the EU ban on diamonds of Russian origin that came into force on March 1, rough and polished diamonds must enter the EU and G7 countries with documentary evidence and declarations that the stones are not of Russian origin. Russian.

Antwerp diamond traders have said they face long and costly delays as a result.