Diamond Sales Up
- By Unknown
- May. 21 1996 00:00
Vyacheslav Shtyrov said 1996 sales were likely to be the same as last year. Almazy's revenue from sales totalled 3.5 trillion rubles ($704 million) last year, he said.
The Russian government authorized Almazy to export rough diamonds and to sign a new treaty on rough diamond sales with South African diamond group De Beers.
De Beers and the Russian government signed a memorandum of understanding in February governing sales of Russian stones through De Beers' London-based Central Selling Organization, but the
document still has to be worked into a formal contract.