The experiment was made with contractors from China and India. Whether the diamond-mining company prepares for new sanctions of the USA and whether other countries will become interested in such mechanism? Photo: Mikhail Tereshchenko / TASS the ALROSA Company of the first among the Russian business has tested the mechanism of payment of contracts with foreign clients in rubles. The experiment was made on transactions with clients from China and India. Thus, ALROSA, most likely, prepares for possible acceptance in the USA of a new sanctions package against Russia. The Russian Ministry of Finance announced possible refusal of payments in dollars earlier. According to the press release of ALROSA, if necessary the company is ready to apply the system of payment in rubles and further. The scheme of payment of production for rubles was fulfilled at the beginning of summer. The pilot project was considered successful, but it is still simply additional option, the director of the branch "Uniform Marketing Organization" of ALROSA Evgeny Agureev: tells — One of our long-term clients has carried out payment for our regular products in rubles. I paid from the account opened in affiliated division of one of the largest Russian banks. And payment has been carried out to much short terms and at once into the ruble account of ALROSA in this bank. We have already applied similar approach in the Chinese market when our Chinese client has carried out payment for our production. It was payment for the won goods within the auction. Studying this approach, we have met some difficulties. In particular, additional coordination with various departments was required. In particular, in India. Here both bank regulator, and bodies of customs. But, in general, such approach gives speed and conveniences, both for our company, and for our clients. Saves considerably time volume on payment. It has demanded extra time, consultations with our Russian bank structures. But I can't tell that considerable labor costs were required. — Main objective what? It was leaving from payment in dollars or transition to payments in rubles? — This increase in speed in payment and conveniences to our clients. Here we can avoid additional komplayens-procedures which demand time expenditure. At the current approach and those payments which at us take place now, they take from three to five days. In China VTB was engaged in bank support of the transaction. The buyer from India has transferred ruble funds from the account for one of planned supply of diamonds in one more Russian bank. How similar decision seems to workers in this market, the expert of BKS Ivan Kopeykin: argues — In my opinion, full transition is very difficult and not one year, perhaps, even will demand decade. A set of the European companies will hardly agree to calculations not in euro and dollars. Certainly, some part of commodity turnover which happens now needs to be transferred to mutual settlements, besides with such countries as the countries of the former Soviet Union, in the conditions of rather aggressive rhetoric from the West in relation to Russia. — Why
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