OREANDA-NEWS. July 30, 2012. The Federal Antimonopoly Service (FAS Russia) agreed with “ALROSA” OJSC the Regulations on Procedures and Conditions of Selling Natural Diamonds, reported the press-centre of FAS Russia. 

The Regulation is the result of more than two-year efforts undertaken by FAS Russia and “ALROSA” OJSC.

The work for developing and approving the Regulations was aimed at creating conditions for effective performance of the market of natural diamonds and protecting competition on the market of selling natural diamonds by eliminating exclusive relations between suppliers and buyers of rough diamonds, ensuring equal conditions for access of buyers to the goods, as well as excluding obstacles for entry of new participants to the market.

The objective was to devise the main principles of commercial relations of “ALROSA” OJSC, which dominates the market of natural diamonds, with the current and potential goods buyers, the procedures and conditions for selling natural diamonds, excluding a discriminatory approach to the buyers of rough diamonds.

In view of such requirements as orientation to general public and a publicly available document, finiteness, achievability, and ability to calculate the criteria and requirements to potential buyers, the Regulations establish:

1. The general principles and forms of sales of natural diamonds;

2. The requirements to potential buyers depending on a form of sales of natural diamonds and the final list of criteria that determine this requirement;

3. The exhaustive list of documents and information to be submitted by potential buyers;

4. The procedures (the order and time schedule) for filing applications for buying goods and considering applications;

5. The procedures for assessing whether potential buyers comply with the established requirements and making decisions on possible cooperation with potential buyers.

Upon an approval by the Executive Committee of “ALROSA” OJSC, the full text of the Regulations shall be published on the official web-site of the company.

“Cooperation between FAS Russia and “ALROSA” OJSC is an example of constructive interaction towards developing the good practice rules for companies on the market, which recently has become one of the important areas of FAS work”, pointed out Acting Head of the FAS Department for Control over Chemical Industry and Agro-Industrial Complex, Irina Epifanova.