Regulator approves rules for Alrosa sales of natural diamonds
MOSCOW. July 26 (Interfax) - The Federal Anti-Monopoly Service (FAS) has approved a regulation on the procedure and conditions for the sale of natural rough diamonds by Russian diamond miner Alrosa , the regulator said in a statement.
The goal of this regulation is to set out the main principles for the commercial relations of Alrosa, which dominates the rough diamond market, with current and potential buyers, and the procedures and conditions for the sale of natural diamonds to rule out a discriminatory approach to diamond buyers, the regulator said.
The regulation stipulates the general principles for the sale of natural rough diamonds, requirements for potential buyers, a list of documents and information provided by buyers, the procedure and deadlines for the submission of applications to purchase diamonds and their review, and procedures for making decisions on possible cooperation with potential buyers.
A spokesman for Alrosa confirmed the information published by FAS, but declined further comment.
Once it is approved by Alrosa's management board, the full text of the regulation will be published on the company's website, the statement said.
