In an unexpected twist, Vneshtorgbank (VTB) bought stock in Russia's diamond company ALROSA. VTB purchased the shares from ALROSA's subsidiary bank, MAK-Bank, reported Kommersant. VTB hopes to acquire additional ALROSA shares from the governments of Russia and Yakutia it reports.

"Indeed, VTB is today's holder in ALROSA," Maxim Kasatkin, first deputy board chairman at MAK-Bank, told Kommersant. VTB acquired the stocks from MAK-Bank under the agency agreement in February.

MAK-Bank has been buying back ALROSA's stocks since February 21 from minority shareholders in order to boost Moscow's ownership of ALROSA to 50 percent plus 1 share.

The stake of Yakutia and its municipalities is expected to stay at 40 percent. In addition to MAK-Bank's market activities, ALROSA plans to release new stocks that would in turn be bought by the governments of Russia and Yakutia.