According to Rosbalt, the negotiations between Armenian cutters and Russian diamonds monopolist ALROSA have not brought positive results in the field of Russian diamonds supplies to Armenia. Gagik Mkrtchan, the head of jewellery department of Armenian Ministry of Trade, states that the intergovernmental agreement on Russian diamonds supplies to Armenia in 2002-2006 will probably loose its importance.

This year Russian diamonds have not reached Armenia at all. According to the agreement signed in 2002, 2.1 mln ct of natural jewellery and 3 mln ct of technical diamonds will have been supplied to Armenia till 2006. Last year after diamonds production liberalisation in Russia the prices of these gemstones exceeded the prices in international market. That’s why Armenian businessmen are not able to import all the diamonds allocated. Only 130 thou ct were imported in 2003 instead of 400 thou planned.

In 2003 the share of Russian diamonds in those cut in Armenia was 35%. Other important gemstones resources are Israel and Belgium.