Friday, Aug 07 2020
All Cities
Choose Your City
'In Novosibirsk... you feel the same energy as in Moscow, New York or London'
dancer Sergei Polunin

Russia moves to create its own diamond exchange in Vladivostok

By The Siberian Times reporter
27 September 2015

Alrosa to announce timetable within two weeks, with exchange likely open by 2016.

Siberia's diamonds are from the Sakha Republic, also known as Yakutia, where the main Russian company Alrosa is headquartered. Picture: Yakutia Government

Ambitions to open the new Russian exchange by the end of 2016 are 'absolutely real', said deputy premier Yury Trutnev. The aim is to 'try to link the marketplaces of the Asia-Pacific countries with the Russian Far East, because it is stupid to sell our diamonds to Japan or China via Antwerp'.

Diamonds from Russia have been sold in the trading exchanges of the Belgian city. Siberia's diamonds are from the Sakha Republic, also known as Yakutia, where the main Russian company Alrosa is headquartered. But Vladivostok, with its proximity to lucrative Asian markets, is seen as the right place for the new exchange. 

'For a start, we just switch our usual  consumers in the Asia-Pacific countries to the Russian Far East,' said Trutnev. 'But it must be done quietly, with calm methods, we need to talk to them [the consumers], hear their opinion and start moving forward. And then, for the next step, we will think about processing, the creation of joint companies. They are also interested.'

He said: 'Alrosa promised to indicate the timeframe, during which they hope to create a trading floor. They will mention a specific period within the coming two weeks. Vladivostok is 'the most convenient in terms of all transport intersections and the city is ready for that'.

Chinese partners are currently buying diamonds from Alrosa 'through Europe - this is a fairly long way, even for diamonds'. The Russian plan is studying the experience of the Shanghai Diamond Exchange in setting up the new trading base in Vladivostok. 

Comments (4)

I think that would be great. DeBeers is a monopoly that's sets the price and who gets the best diamonds. There are tons of diamonds out there that is why when you go to sell the stones back they are practically worthless. Your beautiful gem chrome diopside is much rarer and do you see them promoting the gem no. A gem should cost proportionally with its rarity not because DeBeers says so. I refuse to line there pockets so I never buy diamonds. I have been collecting your gemstone for two years and find it much prettier than diamonds.
Nanette, Columbus , U.S.A.
03/11/2015 04:57
2
0
and why not. keep the greedy deBeers and their CSO in check. direct sales and the profit stays home, hopefully though not into the wrong pockets.
Benedikt, Moscow,Russia
29/09/2015 20:52
5
0
advices/opinions ;

i like russia and all the rest of the world.

if you all benefit from the formulas i wrote? pls

make the nature more clean from pollution and

try to make electriccars and hybridcars?

we all have an obligation to our children, to

hand over a nature that sustains wildlife and everybody
Jesus/magnus sandberg, lulea/sweden
29/09/2015 18:34
0
1
Great idea which can create new business and job opportunities inside Russia, including some in the high tech software area to develop the exchange.



Also, a branch of the new Chinese gold exchange should be established in Moscow.
Enrique, Spain
29/09/2015 03:14
1
0
1

Add your comment

We welcome a healthy debate, but do not accept offensive or abusive comments. Please also read 'Siberian Times' Privacy Policy

Name

Town/Country

Add your comments

The views expressed in the comments above are those of our readers. 'Siberian Times' reserves the right to pre-moderate some comments.

Control code*

Type the code

* obligatory


News

Business

The Bank of Russia official exchange rates of foreign currencies
EUR86.62USD73.04GBP96.17Other...