The vast majority of precious stones cut in Russia are sold abroad. Only 6% of Russian diamonds are sold in Russia. As a Rosbalt correspondent reports, this was announced yesterday at the 5th Russian conference 'Jewelry Market: Trends on the World Market. Prospects for Developing Jewelry Production and Trade in Russia' by Vladimir Fyodorov, deputy minister of industry in Yakutia.
He explained that many Russian people can not afford to buy precious stones. At the same time, Mr Fyodorov believes it is a great accomplishment that certified diamonds can now be bought separately in Russia. Previously it was only possible to buy diamonds as part of a piece of jewelry, which made them significantly more expensive.