De Beers Intends to Buy More Diamonds from Russia

De Beers, the world diamond monopoly, intends to buy more diamonds from Russia as part of its new strategy and to remain firm to its contractual obligations to Russia, Raymond Clarke, general director of De Beers Centenary Russia, told the press on Wednesday. The strategy is designed to stimulate world demand for uncut diamonds, Clarke said. De Beers is obliged to fill 26% of its annual sales quota with Russian diamonds. Therefore, of sales grow, De Beers will be buying more diamonds from Russia. "Our commitment to buy diamonds from Russia remains as strong as ever," Clarke said. "No way will we change out contractual obligations to Russia," he said.