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Alrosa has safety margin to survive sanctions

Russia's finance ministry says Alrosa has a "colossal safety margin" and currently needs no intervention to survive sanctions imposed by G7 nations from 1 January.The state-controlled miner has previously offloaded diamonds it couldn't sell to the Gokhran - Russia's state-run repository of precious stones and metals.

Russia's deputy finance minister Alexei Moiseyev told the Interfax news agency: "There is no indication yet that it will be required. The company has a colossal safety margin, it has negative net debt, and with a large margin." Moiseyev said the company was preparing for sanctions. "There was no secret about it, our opponents have been talking about it for a long time," he said.

Alrosa's sales $4bn annually have, until now, been unaffected by sanctions. It sold 34.6m carats in 2023, despite halting all sales in September and October in a bid to stabilize prices.

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