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Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on Thursday, a move that suggests Western restrictions on Russia’s diamond exports may be having some impact.
But in March, state-owned precious metals and gems repository Gokhran purchased a first batch of Alrosa’s diamonds, the ministry said on Thursday. Finance Minister Anton Siluanov said there was a possibility of Gokhran’s purchasing Alrosa diamonds in 2022, but he said the fund was generally more focused on purchases of precious metals from Russian domestic producers than diamonds.
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