Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Reuters reports that diamond prices are now above pre-crisis levels after a 35 to 40 percent rise so far this year.
De Beers’ Executive Director, Stephen Lussier says,
Diamonds are more scarce than before the crisis. And there are three markets where demand is very strong: China, India and the United States.
