Russian Domestic Investment Grade Diamond Sales Increase Threefold,

ALROSA, which produces about 90% of diamonds in Russia, increased sales of investment-grade diamonds by a multiple of three times in 2024, to more than 1,000 units, the company has said.

The investment category includes diamonds from 2 carats with certain colour and purity characteristics. Their price point starts from ₽2 million (over US$20,000) per gem.

Russia is the world’s largest producer of diamonds, contributing to about 25% of the global supply, and also has the world’s largest and richest diamond reserves.

VTB Private Banking says that the number of transactions for the sale of diamonds in 2024 increased by 60% year-on-year. This year, the bank expects further growth in interest in diamonds as a protective instrument, says Yulia Bezmenova, vice president and head of VTB’s business development.

Alfa Bank notes that wealthy investors around the world tend to invest about 5% of their portfolio in collection properties, or approximately US$300 billion per year. The weight of investment stones in such a portfolio varies across countries, but in general it is about 1%, or US$1.5–2 billion.

Source: RUSSIAPIVOTTOASIA

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