Russian Finance Ministry retaining resources for mass purchase of diamonds from Alrosa in 2026, but feasibility still not clear - deputy minister

VLADIVOSTOK. Sept 2 (Interfax) - The Finance Ministry is retaining resources from this year's budgetary allocation limit for the State Precious Metals and Gemstones Repository (Gokhran) (50 billion rubles) for the mass purchase of diamonds from Alrosa in 2026 in order to support the company amid the crisis in the diamond market, Deputy Finance Minister Alexei Moiseyev told Interfax on the sidelines of the Eastern Economic Forum.

Although the ministry still prefers to use these funds to purchase gold as a more liquid asset, it is planned that the bulk of the funds will be used closer to the end of the year, and the possibility of supporting Alrosa remains.

But the feasibility of a mass purchase is still in question, as the Finance Ministry notes signs of a market recovery - in particular, the last trading session of Alrosa went very well, and there are signs of growing demand even for small stones, Moiseyev said.