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. Last Updated: 07/27/2016

Gem Talks to Resume

MOSCOW -- Russia and South African diamond-producing giant De Beers will open a new round of talks in Moscow soon on new cooperation plans, Itar-Tass said Friday. Russia has a long-term agreement to sell 95 percent of its rough diamond output through De Beers' Central Selling Organization and Russian diamonds accounted for 26 percent of De Beers sales last year. But many Russian officials object to the agreement and the two sides agreed in early May that it should be changed to take account of the new Russian political situation.