Russia Declassifies Diamond Data; Now Leading Producer By Volume - Jan.2005
For the first time in its history Russia has publicly released its diamond
import, export and production statistics.
The diamond statistics have been considered an official state secret since
the 1950s, when the first mines were discovered.
According to a report from Russia’s Finance Ministry, the country’s uncut
diamond production in the first half of 2004 was 17.7 million carats, valued at
$948 million.
In 2003, Russia produced 33 million carats of stones, or $1.6 billion. This
makes Russia the largest diamond producer in terms of volume, although still
second to Botswana in terms of value.
Russia is making the figures public to comply with the requirements of the
Kimberley Process. Russia is supposed to be the new chair of the process next
year, but its chairmanship was jeopardized if it didn’t make the figures
public.
It was also possible sanctions could have been put on the country. v | 
