N e w s

In its Decree on May 8th , the Government of Russian Federation introduced several changes, and also removed several statements, listing the rules of operations with precious metals for separate companies. This was reported by the Department of Government Information.

According to the new changes companies may purchase unpolished gemstones not used in manufacture, from Russian processing organisations, to trade precious jewellery through retail and wholesale, without holding an appropriate license for its treatment.

Juridical person who do not hold a license may also be engaged in cutting or other treatment of gemstones and jewellery manufacture.

The Government also removed a compulsory license for treatment of gemstones by buyers (Russian organizations) and of natural rough diamonds weighting over 10,8 carats, excluding unique stones, unsuitable for use in jewellery manufacture belonging to Russia's State Precious Metals and Gemstones Fund.