Russian Prime Minister Vladimir Putin on Friday pledged $1 billion in state support to Alrosa to assist in dealing with a steep global decline in demand for gemstones.
According to the BBC, the money will help with the company’s $3.6 million debt.
The state-controlled diamond mining company produces 25% of the world’s rough diamonds and resumed trading operations in July.
Follow JCK on Instagram: @jckmagazineFollow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine