On March 16, 2004, Russian Jewellery Network held Internet press conference with the president of Russia’s Diamond Chamber and the CEO of Almazny Mir Company Sergey Ulin.

He informed that the changes of law on diamonds import and export has led the development of the country’s foreign-economic activity. The decree provides abolition of diamonds export licensing that increases considerably Russian diamanteries competitiveness in the world’s market. Besides, the decree gives Russian regions the opportunity to export up to 15% of diamonds mined.

In 2003, 47 Russian enterprises exported over 1 mln ct $46 mln worth. However, in the domestic market there are many institutional problems that are to be solved.