RUSSIAN STATE DUMA RATIFIES THE AGREEMENT ON NATURAL DIAMOND DELIVERY TO ARMENIA

15.12.2000, MEDIAMAX, YEREVAN. The State Duma of Russia is going to ratify today the Armenian-Russian inter-governmental agreement on natural diamond delivery to Armenia in 1999-2001.
As Russian agencies report, the agreement envisages the circulation of natural diamond delivery to Armenia not to be liable to VAT (value added tax). Preserving the existing order of VAT collection, the purchase of natural diamonds by Armenia becomes economically inexpedient, as the expenditure exceeds the cost of the produced output (diamonds).
At present Armenia buys natural diamonds, including the Russian ones, in the Western market.
The Armenian-Russian inter-governmental agreement of natural diamond delivery to Armenia in 1999-2001 was concluded in Moscow, November 1998. –0–