Russia will spend 154 billion rubles on buying precious stones from the State Corporation of Alros.
In 2025 the Russian government plans to buy diamonds for budget funds to support state corporation Alrosawho fell under western penalties and lost most exports – to the lowest level for more than ten years. This was revealed by Deputy Minister of Finance of Russian Federation Alexei Moiseev, informs Rossmi.
Russia’s draft budget for 2025-2027 provides 154 billion rubles for the purchase of precious stones for the Gosfond of precious metals and rocks of the Russian Federation, half of which will be directed precisely to diamonds.
Now the parties are linked to a specific assortment.
“This is not an easy job. State funding wants to buy the best and unique stones, however Alrosa It can sell the best and so. But the parties moved forward, and I think they would soon go into positions, ”Moiseev said.
Company Alrosa Located under western penalties since 2022. At the beginning of 2024, G7 countries have introduced a collapse for importing its diamonds, while since March they have banned the supply of Russian diamonds even through third countries.
As a result, the export of Russian diamonds dropped to 30.4 million carats -by 38% less than a full -scale aggression (48.6 million carats in 2021).
According to the results of the year, the company announced the incidence of 26%, the reduction of EBITDA was nearly double and a reduction in the net profit of 4.4 times – up to 19.3 billion rubles. In the second half of 2024 Alrosa It became unprofitable: losses reached 17.3 billion rubles.
RF diamonds budget purchases will allow the company to rely on state support for about 26 billion rubles in 2025, calculating analysts.
Keep in mind that Russia Alrosa’s major diamond company against the background of the industry crisis has suspended the development of the least profitable properties and reduced staff.
Export of Russian diamonds has fallen to a minimum for more than 10 years
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Source: korrespondent
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