DCWC Opposes De Beers-Russia Contract

In a strongly worded letter, the Diamond Club West Coast has asked the European Union not to approve De Beers' new contract with Russia, warning it will have "anticompetitive" effects on the diamond industry. The European Union has been looking at the legality of the De Beers-Russia pact, and it sent a confidential "Statement of Objections" to the two parties in March. At the recent diamond association meeting in South Africa, participants debated taking their issues with De Beers' Supplier of Choice policy to the EU, but members ultimately decided against it. The DCWC has bucked the international organization and complained publicly anyway. The letter, signed by DCWC president David Marcus, argues that the negative effects of Supplier of Choice will hurt not only small dealers but also small retailers. "Small retailers … seem to be ignored in the Supplier of Choice program," the

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