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Yuri Trutnev: Authorities do not intend to support diamond-cutting industry only at the expense of ALROSA

  • Published in Economy
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The government of the country is considering options to support the domestic diamond-cutting industry. But they do not intend to do this only at the expense of ALROSA. Yuri Trutnev, Deputy Prime Minister and Plenipotentiary of the Russian President to the Far East, told journalists about this in Yakutsk.

"As for supporting the diamond-cutting industry, I would not link it directly to dividends from ALROSA. Today we spoke on this topic. We need the maximum amount of surplus value from diamond mining to stay in Russia, Yakutia, and other entities of the Far East. Therefore, it is necessary to support the cutting industry and think about the revival of the jewelry industry. This requires a system of measures. It's not just money. There is still a lot of work to be done legislatively,” said Yuri Trutnev after the meeting, at which the draft strategy of ALROSA development for the medium-term period was discussed.

Earlier, options for reducing the dividend of the diamond company were considered, and the released funds were planned to be used to support the domestic diamond-cutting industry.

"If this requires any additional financial investments, in principle, we can consider the issue in order to reduce the amount of dividends and, through this, take measures. I want to emphasize that we do not plan to support the manufacturing industry at the expense of the company as such," the Deputy Prime Minister said.

"We do not want ALROSA's efficiency to decrease, and other industries have developed due to this. It is the responsibility and duty of the state. Simply  the Company should help in this," Trutnev stressed.

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