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ALROSA is not yet discussing a deal for the sale of rough to Gokhran

07 september 2022
(Interfax) - ALROSA is not yet discussing a deal for the sale of rough diamonds to Gokhran, which could guarantee a full workload for the company’s mining units and support financial performance against the backdrop of US sanctions that hindered its diamond sales.
“Not yet at this stage. If it suddenly becomes necessary, I think the government will be glad to consider [the feasibility of this deal]," Sergei Ivanov, ALROSA CEO told Interfax on the sidelines of the Eastern Economic Forum (EEF-2022). 
He noted that the company does not yet plan to resume the publication of monthly sales data.
“It’s hard to say. It doesn’t depend on us; we don’t invent difficulties for ourselves. For now, we work in this mode, in a calm way,” he said.
ALROSA refused to publish regular data on monthly sales in March of this year.
Ivanov also said that the company does not have to lower prices in order to sell its goods. "Markets are stable," he described the situation.
In late August, Bloomberg reported that ALROSA had restored sales volumes almost to the pre-sanction level, selling rough diamonds mainly for Indian rupees. After several months of sales difficulties caused by US sanctions, ALROSA is once again selling diamonds worth the equivalent of more than $250 million per month, i.e. sales are now about $50-100 million lower than before, Bloomberg said.
In early March, the United States banned the import of rough and polished diamonds from Russia, and in April ALROSA was included in the SDN list. Despite the fact that US sanctions do not prevent the supply of diamonds to India, some Indian cutters began to refuse Russian stones due to the created uncertainty, preparing to indicate the origin of each stone and redirecting Russian diamonds to the markets of China, Southeast Asia or the UAE.