Countering violent kleptocracies: natural resource integrity in a war-fraught era

May 25, 2023 | 11:00 AM - 12:00 PM
Auditorium

Description

Valuable natural resources are used to finance war and human rights atrocities all over the world. Russia’s invasion of Ukraine has thrown the issue into the limelight illustrating the cost of closing our eyes to this phenomenon. Despite sanctions and product bans on Russia’s lucrative industries including the extractive sector, it has not been possible to close the net on Russian diamonds, gold, and other mined materials exposing longstanding loopholes in responsible sourcing guidelines and sanctions enforcement. Natural resources should be used to fund public services, but are instead used by violent kleptocracies for private gains and the funding of violence and repression in an endless loop of corruption and human rights abuses. Cases from different parts of the world are highlighted and the panellists discuss relevant solutions for policymakers, businesses, and financial institutions with a specific focus on practical actions and implementation.