Armenia Sees Russian Diamond Supplies Resuming Soon

TASS
April 16, 2004 Friday

Russia is expected to resume rough diamond supplies to Armenia in the
near future, First Deputy Economic Development and Trade Minister,
Ashot Shakhnazaryan, said.

Since December 2003, there haven been no supplies from Russia, but
corresponding agreements to resume imports have already been signed by
Armenia’s four major diamond-cutting companies.

Only 130,000 carats were imported into Armenia in 2003 out of the
planned 400,000 carats, he said.

Analysts said the decrease in diamond imports from Russia was caused
by liberalization of the Russian market, which made Russia’s rough
diamond monopoly ALROSA hike prices.

From: Emil Lazarian | Ararat NewsPress