Russia’s Finance Ministry sees no crisis in diamond sector, situation better than expected! Russia’s diamond industry is not experiencing a full-scale crisis, and the actual situation has turned out to be better than anticipated, Russian Deputy Finance Minister Alexey Moiseyev said in an interview with the Official Russian media.
“The reality is not as bad as we initially expected. One must take into account the suspension of sales that major diamond mining companies implemented at the end of last year. We are not witnessing a full-scale crisis like the one seen in 2020,” he stated.
Moiseyev noted, however, that long-term trends remain a source of concern. “We are seeing new players in the market, particularly India, which is emerging as a significant consumer of diamonds. In my view, the current situation is not bad.
As is often the case during periods of crisis, ‘the weak will exit, and the strong will remain.’ The strong players will be able to benefit from this later on,” he said. As previously reported, the diamond industry has been undergoing a serious downturn due to falling prices and growing competition from synthetic stones.
Roughly half of the total purchases by Gokhran this year will consist of diamonds. Alexey Moiseyev noted that long-term trends remain a source of concern.
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
✨ ONLY 6 DAYS TO GO! ✨
DJGF 2026 is almost here! 💎
750+ Exhibitors | 2,00,000+ Designs | 5 Halls
📅 26–28 Sept 2026
📍 Bharat Mandapam, New Delhi
Discover collections, connect with industry leaders & unlock new opportunities.
🔗 Register Now: https://djgfregistration.jewelleryfair.in/exhibitor_reference_registration/?ref=marketing
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
