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.
Luxury jewelry has traditionally not been considered as profitable as high-end watches, handbags and garments in the Chinese market.
But this is fast changing. The country’s fine jewelry market has been growing steadily in the past two years, and consumers are becoming more sophisticated.
