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JUNE 4, 2001  


ALROSA Will Sell Unique Diamonds

Source from ALROSA told "Vremya Novostei" newspaper that President Vladimir Putin allowed to sell unique diamonds to raise money for aid to people who suffered from flood in Yakutia. The sum of money discussed is $30 mln. Source also said that President gave a directive to Finance Minister Alexander Kudrin to raise a credit so much required by the company. The information on the credit sum ($100 mln required) is not announced.
It is noticeable that ALROSA applied for the credit two months ago but was given negative answer. The recent application was related to the floods.
Unique diamonds is an exclusively precious type. Usually diamonds of 50 carat weigh and higher fall into this category. They do not subject to De Beers trade agreement and their export is regulated by presidential orders.
The scheme of unique diamond sale. It is obvious that it will differ from regular diamond sale. They are sold separately and usually bought by Arabian sultans and other extremely rich.

Anastasia Naryshkina
Source: Vremya Novostei
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