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The Agreement between Russian Diamond monopolist ALROSA and De Beers is still waiting to be approved by European Commission, but Russian diamond cutters already express their concerns in regard to several points of this Agreement. Diamond cutters believe that they are short of rough stones. ALROSA, in its turn, is confident that liberation of the domestic market is the key to many issues.

According to the new Agreement between ALROSA and De Beers, during the course of three years ALROSA is bound to sell to De Beers diamonds worth $800 million. From that amount, $500 million is the share of ALROSA's annually mined diamonds. Nevertheless, ALROSA reserved a right to review in three years time this quote for De Beers and adjust it to the one which is considered not to be effective for domestic cutting market.

"Kristall" plant, Russia's largest diamond cutting company, cutting from 40 to 50% of diamonds produced in Russia, annually produces quality cut diamonds worth $250 million. Yuri Rebrik, General Director of "Kristall" says " today we can double the production rate, but in order to do that we need the guarantee of the rough diamond sales. Russia cutting company id capable of processing almost all rough diamonds mined in the country. But we do need a guarantee that we would be able to purchase rough diamonds in Russia, while now we have to purchase our rough material in London.