Russia ends export tax on diamond supplies to Armenia

Russia and Armenia on Monday signed an intergovernmental agreement to cancel export duties for supplies of diamonds to the South Caucasus nation. Russian President Vladimir Putin signed the deal with his Armenian counterpart, Serzh Sargsyan, during a high-level visit to the country.

Armenia decided in September to join the Moscow-led Customs Union of Russia, Belarus and Kazakhstan. A roadmap on Yerevan’s admission is to be signed later in December. Western analysts have accused the Kremlin of pressuring former Soviet states to give up their attempts to closer integrate with the European Union. Russia has denied the accusations. The Russian president stressed that Russia remained Armenia’s leading trade and economic partner in terms of both trade and investment.

Russia’s Alrosa sold 40,233 carats of diamonds worth $4.85 million to Armenia in the January-September period of this year.