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The Israeli Diamond Exchange announced on Monday that it would ban any of its members who knowingly traded in diamonds obtained from rebel movements in African conflict areas, news reports said.
According to the reports, a diamond trader or manufacturer who is expelled from the Israeli exchange - the world’s largest exporter of polished diamonds - is automatically ousted from all other 23 diamond dealing bodies in the world.
Israel’s decision follows the UN Security Council’s decision that the industry deals only in diamonds originating from official government sources.
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