The Ministry of Finance of the Russian Federation is not yet considering the option to provide state aid to the diamond mining company ALROSA now sanctioned by EU in a form of purchasing rough and polished diamonds to the Gokhran state fund.
“There are no signs yet that [state aid] will be required. The company has a colossal resilience, it has a negative net debt, and with a large margin at that,” Interfax quotes Deputy Finance Minister Alexei Moiseev as saying.
At the same time, according to the deputy minister, the sanctions are “of course, an unpleasant story, we will see how it develops.”
Moiseev added that the company “was preparing [for sanctions], because there was no secret about it, our opponents had been talking about it for a long time.”
Gokhran operates within the budget limit for the purchase of precious metals and precious stones, which for 2024 is 51.5 billion rubles.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
