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Alrosa Halts Diamond Shipments To Armenia

ALROSA HALTS DIAMOND SHIPMENTS TO ARMENIA

Interfax News Agency
May 22 2008
Russia

The agreement under which Russian diamond-mining monopoly Alrosa
(RTS: ALRS) is supposed to ship rough diamonds to Armenia in 2008
has been temporarily suspended, Economics Minister Nerses Yeritsian
said Wednesday.

The first shipment of rough diamonds was delivered to Armenia last
year, but then shipments did not continue because a problem arose
with Russian customs concerning rough diamond exports under tolling
arrangements, he said.

The Russian authorities planned to resolve this problem last year,
but the issue dragged on due to the presidential elections in Russia,
Yeritsian said.

"I hope that in the summer we will manage to resolve this problem
with Russia. We’re prepared to fly to Moscow today," he said.

Alrosa last December signed agreements with four Armenian diamond
cutters to supply $28 million-$30 million worth of rough diamonds
in 2008. At the time, Alrosa president Sergei Vybornov said that the
first batch worth $1 million had already been delivered to Armenia.

Production of cut diamonds in Armenia tumbled by more than half in
2007, to 43.2 billion dram.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian: “I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS
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