Russia » Economics

ALROSA official says new rules will not affect Russia's diamond exports - 15 October, 2002

New rules for exports and imports of uncut diamonds will become effective in 2003, Sergey Ulin, Vice President of the Russian diamond monopolist ALROSA, announced at a press conference today. The press conference, which was held in the Russian Chamber of Commerce and Industry, was devoted to problems in the development of the domestic market of precious metals and stones. The ALROSA official reported that a meeting between representatives of precious stones extracting and cutting companies would take place in Switzerland at the beginning of November 2002. Participants of this meeting will pass a program allowing exports and imports of uncut diamonds only for companies that have the Kimberly Process certificate. The Vice President stressed these new regulations would not affect Russia's exports and imports of diamonds, as this country was not involved in the black market of diamonds.

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