In 2014 Armenia reduced imports of rough diamonds mostly due to decl

In 2014 Armenia reduced imports of rough diamonds mostly due to
decline in supplies to Russia

by Arthur Yernjakyan

Saturday, November 22, 09:38

In 2014 Armenia reduced imports of rough diamonds mostly due to the
decline in supplies to Russia, Armen Yeganyan, Head of the Industrial
Policy Department of the Armenian Economy Ministry, has told ArmInfo.

He said that in Jan-Oct 2014 the Armenian lapidary companies purchased
38 thsd ct of rough diamonds from Russia. Throughout 2013, a total of
96 thsd ct of rough diamonds were purchased. Part of the diamonds was
bought from the Russian Depository of Precious Stones, but the major
part was bought from Alrosa, he added.
Yeganyan pointed out that in accordance with the intergovernmental
agreement, in June 2014 Russia canceled the 6.5% customs duty on the
rough diamonds exported to Armenia. The supplies started in June.
Actually, the 38 thsd ct of Russian diamonds were exported to Armenia
over the past three months. This explains the decline in imports,
Yeganyan said.

It should be pointed out that all the diamonds exported from Russia
are completely being cut in Armenia. Last year the Russian diamonds
were almost completely re-exported to the third countries. Re-export
made up quite a big share in the total amount of export, he said.
Under the specified agreement, in June 2014 Russia not only cancelled
the customs duty, but also banned the re-export to the third
countries, he said.

According to him, in Jan-Oct 2014 Armenia imported a total of 107 thsd
ct from Russia, Namibia, Guinea, Canada, Belgium, Sweden and other
countries 175 thsd ct throughout 2013.

Yeganyan added that in 2015 the import of Russian diamonds will be
fostered. However, he refrained from giving specific forecasts.

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