Russian State Precious Metals and Gemstones Repository (Gokhran) could allocate half of allocations to diamonds this year, agrees on assortment with Alrosa - Moiseyev

ST. PETERSBURG. June 19 (Interfax) - The Russian State Precious Metals and Gemstones Repository (Gokhran) could spend half of the budget allocations on diamonds this year, Deputy Finance Minister Alexei Moiseyev told reporters.

"About half of the total amount of Gokhran purchases this year, as provided for in the budget, [will be spent on purchasing] diamonds," he said.

The federal budget for 2025-2027 has allocated up to 154.5 billion rubles ($1.55 billion) for Gokhran's purchase of precious metals and gemstones.

The parties are currently agreeing on a specific assortment, the deputy minister said.

"The purchase must take place because the government's order provides for it. However, there is no rush, because it is not as bad as we had feared for the situation now [on the diamond market]," he said.