Nornickel plans to increase the equity holdings of employees and other individuals to collectively comprise 25% of the company, up from 10% now.

The giant price fluctuations that followed Russia’s invasion of Ukraine roiled markets for everything from natural gas to crude oil and metals.

Polyus had previously asked bondholders to accept payment in a currency other than the US dollar.

Expected to fetch over $21 million, the diamond has the potential to set a new price per carat record given its purity.

Russia is a significant supplier of both platinum and palladium, which are mostly used to cut emissions from gasoline and diesel vehicles.

Kingdom passed a new minerals investment law last year and provided 13 reconnaissance licences, 133 exploration licences and eight exploitation licences.

Russia is one of the world’s top three coal exporters, controlling about 17% of the global shipments.

The move comes weeks after Rusal tapped the yuan bond market on the Moscow Exchange.