The Central Bank of Russia is making its contribution to the liberalization of the precious metals market by suggesting unexpectedly to declassify information on the volumes of silver produced and consumed in Russia. The Finance Ministry made the same petition to an interagency commission a few months ago. A source in the Ministry of Economic Development and Trade called this moved “the last step on the road to liberalization.” The Central Bank proposal has been received by the Finance and Economic Ministries and the FSB. It would rescind Presidential Order No. 1203 of November 30, 1995. Information on the reserves, production, sales and consumption of diamond and platinum were secret until March of this year. Now only the volume of state reserves of precious metals and stones is a secret, as well as al information on silver.

No explanation has been offered for the fact that silver was subject to liberalization at the same time as other precious metals. Silver has always been classified as a strategic metal in Russia, and its largest consumer is the radio-electronics industry. In Soviet times, the consumption of silver in certain individual regions was revealed, so the potential enemy would be unable to determine the area where secret enterprises were located. Analysts say that the main reason, however, that silver has lagged behind in liberalization is the lack of a lobbyist for it. The silver market is decentralized and made up of parties with highly varied interests.