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Moscow puts state diamonds under the hammer as budget pressures mount (tvpworld.com)

submitted 2 weeks ago by EatingOnions@lemmy.world to c/world@lemmy.world

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[-] grte@lemmy.ca 56 points 2 weeks ago

I'm sure being in the "pawning off your jewels" stage is not indicative of anything concerning for them.

[-] JasonDJ@lemmy.zip 5 points 2 weeks ago* (last edited 2 weeks ago)

Eh, wake me up when he's sewing them into his clothes.

Until then, I aensesthetize.

[-] Lydon_Feen@lemmy.world 23 points 2 weeks ago

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?

[-] Atelopus-zeteki@fedia.io 23 points 2 weeks ago

Apparently, no. Sell the "family jewels" long before tapping his own purse.

[-] SGGeorwell@lemmy.world 10 points 2 weeks ago

Yeah, it’s estimated at hundreds of billions. This fuckin guy.

[-] Quacksalber@sh.itjust.works 9 points 2 weeks ago

He asked the country's oligarchs to "voluntarily" gift money to he state.

[-] ramble81@lemmy.zip 9 points 2 weeks ago

Russia is about to settle the debate of who is stronger: the Oligarchs or the Dictator.

[-] someguy3@lemmy.world 7 points 2 weeks ago

Stealing at that level is parts of companies, building mansions, etc. Not so easy to sell.

[-] workerONE@lemmy.world 20 points 2 weeks ago* (last edited 2 weeks ago)

They're probably selling because lab grown diamonds are indistinguishable from natural diamonds and the value of their diamond stock is plummeting

[-] AHemlocksLie@lemmy.zip 16 points 2 weeks ago

And also getting their shit kicked in by Ukraine is hella expensive.

But you are right, it's probably about time to liquidate diamond stockpiles. That market is dwindling.

[-] Ghostalmedia@lemmy.world 16 points 2 weeks ago

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.

[-] someguy3@lemmy.world 13 points 2 weeks ago

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.

[-] Danquebec@sh.itjust.works 3 points 2 weeks ago

That sounds like a lot of gold!

[-] jaykrown@lemmy.world 6 points 2 weeks ago

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.

this post was submitted on 28 Jul 2026

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