Russian Deputy Finance Minister States No Immediate Need for State Support for Alrosa
Russian Deputy Finance Minister Alexei Moiseyev stated that Alrosa does not require immediate state support, as the company has effectively reduced costs and maintained liquidity, ensuring financial stability. Despite concerns from Yakutia authorities, existing interbudgetary relations are in place to address these issues, while Alrosa's recent sale of its stake in Angola's Catoca has further bolstered its independent sales management. The government will continue to monitor Alrosa's situation throughout the year.
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The Russian Deputy Finance Minister Alexei Moiseyev announced that there is no current need for state support for Alrosa, as the company has successfully reduced costs and maintained liquidity. Alrosa's financial condition is stable, with a significant cash reserve, eliminating immediate concerns.
The government will continue to monitor the situation throughout the year. While Yakutia authorities have expressed concerns, there are existing interbudgetary relations to address these issues. Additionally, the State Precious Metals and Gemstones Repository (Gokhran) is acquiring gold, platinum, and silver, with a potential budget of 50 billion rubles for diamond purchases in 2026, depending on market conditions. Alrosa has also benefited from the sale of its stake in Angola's Catoca, allowing it to manage sales independently.
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