Russia’s Gokhran to buy 5 bln rbl diamonds for state fund

MOSCOW, May 13 (PRIME) -- Russia’s s repository Treasury Gokhran will buy diamonds worth 5 billion rubles in order to replenish the state fund of precious metals and precious stones in 2016, Deputy Finance Minister Alexei Moiseyev told reporters Friday.

“Gokhran will buy diamonds worth 5 billion rubles. The combined limit of the state fund’s formation (envisaged by the 2016 budget) is 12 billion rubles, but 7 billion rubles are reserved for now,” he said.

The government planned to spend the 7 billion rubles on purchases of gold and other precious metals. “But only a decision to buy diamonds has been made so far, a decision regarding precious metals is still under discussion. I am not sure we should do this, I have no definite position due to the dynamics of prices,” he added.

Gokhran did not buy diamonds in 2014 and 2015.

(64.9607 rubles – U.S. $1)

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