FAS agreed upon the Trade-and-Sales Policy of “Kaliningrad Amber Works” JSC

The document establishes the procedures and sales terms for the amber raw material company.

The Trade-and-Sales Policyis the result of joint efforts by FAS, “Rostekh” State-Run Corporation and “Kaliningrad Amber Works” JSC. Upon the outcome of inspecting amber industry efficiency, the President of the Russian Federation instructed to draft a document ensuring transparency of amber raw sales terms.

The Policy determines the procedures and sales terms for amber raw materials, particularly, through organized trading. It is designed to exclude a discriminatory approach to the buyers, creating transparent sales and pricing mechanisms.

The Trade-and-Sales Policyestablishes:

- The general principles of operations of “Kaliningrad Amber Works” JSC on the market of raw amber

- Requirements to potential buyers

- The closed list of documents and data submitted by potential buyers to evaluate compliance and make decisions on possible cooperation

- General product supply conditions and the pricing system for the products.

According to the Head of FAS Department for Control over Chemical Industry and Agro-Industrial Complex, “the Trade-and-Sales Policyof “Kaliningrad Amber Works” JSC will facilitate market pricing for raw amber and ensure equal access conditions for all participants on the amber market”.

Reference:

No. 20 Order of the President of the Russian Federation of 14.01.2014 “Kaliningrad Amber Works” state unitary enterprise (Yantarny village, the Kaliningrad region) was transformed into an open share-holding company, with 100% shares in state property that are transferred as the asset contribution of the Russian Federation to “Rostekh” State-Run Corporation.