Based on materials from Rosbalt.

The deputy Minister of Industry of Yakutia Vladimir Fedorov announced at the V Conference “Jewellery Market: world’s tendencies and Russian jewellery market and trade development” that the main part of Russian cut diamonds is exported. He informed as well that only 6% of these gemstones are realised at the domestic market.

Experts explain this phenomenon in terms of Russians’ low purchasing capacity – most of Russia’s citizens can’t afford buying diamonds. Mr Fedorov emphasised the progress in gemstones trade in Russia – it is now allowed to sell certified diamonds unset.