Honestly, with lab grown diamonds disrupting the market, keeping money in gems seems dumb as fuck in 2026. Get rid of that shit while you can.
I wonder if Putin will tap into the many, many, many billions he has stolen over the decades, to keep his little round of FAFO going?
Yeah, it’s estimated at hundreds of billions. This fuckin guy.
Stealing at that level is parts of companies, building mansions, etc. Not so easy to sell.
They’re probably selling because lab grown diamonds are indistinguishable from natural diamonds and the value of their diamond stock is plummeting
Russia’s Finance Ministry said will hold an open auction in Moscow on September 9 to sell natural rough diamonds weighing 10.8 carats or more from the country’s state fund.
The central bank has sold 43.5 metric tons of gold since January while Russia’s federal budget deficit approached 6 trillion roubles (€67 billion) in the first half of the year.
Russia is in a major fuel crisis, this won’t help. The Russian economy is in a severe recession which will get worse as Ukraine continues to destroy their logistics. Putin should announce leaving Ukraine immediately, it’s the only way to stop Russia from falling apart.
