Rising economic uncertainty and shifting savings behaviour are driving more Russians to invest in diamonds, according to Alrosa, the world’s largest diamond producer by volume.

The company reported a sharp increase in demand for investment-grade diamonds in the domestic market, with sales rising by 40% in 2025. Transaction volumes for such stones also grew by around 20% in the first nine months of the year compared with the same period in 2024.

Alrosa noted that diamonds are increasingly being viewed as a store of value, offering portfolio diversification amid inflationary pressures and limited access to traditional investment instruments. The trend reflects a broader shift among Russian consumers toward tangible assets.

The miner added that interest is particularly strong in high-quality, certified stones, which are perceived as more liquid and reliable for long-term wealth preservation.