Russia’s Finance Ministry is considering purchasing more rough diamonds from Alrosa for the State Precious Metals and Gemstones Repository (Gokhran) in 2025, Interfax reported. This comes as the government looks to support Alrosa amid concerns about the diamond market.
According to Interfax, Deputy Finance Minister Alexei Moiseyev said the government is exploring this possibility to help Alrosa maintain its liquidity and avoid being forced to sell diamonds on the market at unfavourable prices. He noted that the market is currently facing challenges.
To fund these potential purchases, the government plans to allocate a portion of its budget for precious metals and stones. The proposed purchase limit for next year is set at 51.5 billion rubles.
As reported by Interfax, earlier this year, Alrosa and the Finance Ministry agreed to buy a portion of the rough diamonds produced in 2024. The first consignment of these diamonds was successfully acquired by the government. However, there have been no subsequent reports of Alrosa purchasing diamonds from the repository.
Interfax noted that while Moiseyev stated that there are no current plans for such purchases in 2024, he left open the possibility of acquiring rough diamonds from Alrosa next year. He emphasised the confidential nature of these discussions, suggesting that any final decisions may not be publicly announced.