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Traders suggest the new contract would have involved the Central Selling Organization buying about US$ 600 million a year of these smaller stones which Russia might now have difficulty in selling. links of london 

The CSO would also have committed to buying about US$ 500 million a year of bigger rough diamonds but might now be able to pick some of these up at a lower price from western traders who have bought them directly from the Russians. links of london sweetie 

The certainty that the Central Selling Organization is still willing to use its big financial power to support at least the top end of the rough diamond market is one reason why the severing of links with Russia has caused no market panic. But traders have also been reassured that the market will not be deluged with Russian diamonds — as many feared two or three years ago. Two Hearts Charm Red 

Not only is Russian production suffering some difficulties, it has also been clear for some time that the country’s diamond stocks are running low. This was confirmed recently by the Accounting Chamber, a Russian parliamentary watchdog committee, which warned that the stocks would be exhausted by the middle of next year if sales went on at the same rate as in 1995-96. Classic Smiley Minx Charm