ALROSA tests ruble settlements in diamond sales to China, India

MOSCOW, Aug 15 (PRIME) -- Russian uncut diamond mining giant ALROSA has tested the mechanism of ruble settlements with China and India, the company said in a statement on Wednesday.

“ALROSA…has tested the mechanism of settlements in the Russian currency with foreign clients. We carried out these deals with clients from China and India experimentally. The company is ready to use the ruble settlement plan further if it is necessary,” the company said.

A Chinese company paid in rubles through the Shanghai branch of Russia’s second largest bank VTB for a diamond with a mass of more than 10.8 carats that it bought at a June auction in Hong Kong. A long-term Indian client paid in rubles for one of regular diamond supplies using its account in another Russian bank, ALROSA said.

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