Russia is putting its diamonds up for sale as Moscow looks for more ways to raise cash amid mounting budget pressure and heavy war spending.
  • pluggerslugs@piefed.socialEnglish
    10·
    4 days ago

    Something about selling off the uncut diamonds from the vault seems extra desperate. They also significantly increased personal income tax rates last year, which is usually unpopular and not something you’d want to do in bad economic conditions, but that war-shaped budget hole is just too big and hungry.

  • NoSpotOfGround@lemmy.world
    4·
    4 days ago

    10.8 carats worth of diamonds is almost nothing for a state. Half a million USD if it was all one single stone, but probably in the tens of thousands USD for multiple stones, I believe.

    • pluggerslugs@piefed.socialEnglish
      8·
      4 days ago

      sell natural rough diamonds weighing 10.8 carats or more from the country’s state fund

      That’s probably the minimum size of the stones not the total weight they’re selling.

      • NoSpotOfGround@lemmy.world
        5·
        4 days ago

        Ah, you’re right, I misunderstood. A different article makes it a bit clearer that your interpretation is correct:

        an open domestic auction in Moscow on September 9 for natural diamonds weighing 10.8 carats (2.16 grams) or more.

        Although the wording is not that different… I just misread, I guess.