Based on the agreement on cooperation in the supply of natural gas, petroleum and unrefined diamonds signed between the Government of the Republic of Armenia and the Government of the Russian Federation on 2 December 2013, according to which Armenian companies having obtained natural, unrefined diamonds from the Russian Federation without paying the export fee must not export the diamonds from Armenia, the Armenian government set the procedure for registering those diamonds and recognized the RA Ministry of Economy as the plenipotentiary body in charge of that during its session today. According to Russian legislation, non-residents obtain natural, unrefined diamonds from that country’s diamond extracting companies by paying a high export fee. By this agreement, Armenian companies are exempt from the mentioned fee under the condition that the diamond that they obtain won’t be exported from Armenia. The decision is expected to help increase the development of jewelry-making in Armenia.

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