Russia may sell over $1bn worth diamonds in international market
MOSCOW – Russia is considering selling over a billion dollars worth of rough diamonds purchased last year, but has no urgent need to do so, Finance Minister Alexei Kudrin said on Wednesday.
"We are discussing the strategy now, the market is asking for sales," he said.
"We do not have revenue problems this year, that is why there is no need to sell them (diamonds)," Kudrin said, adding that the market was improving.
In 2009, the government bought $1 billion worth of rough diamonds from diamond monopoly ALROSA. The purchase was not only an anti-crisis management measure, but produced some income, he said.
"We bought at low prices and now we see the result - the state purchased assets which have risen in price," Kudrin said.
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