The war with Ukraine has worsened Russia’s economic condition. After selling gold, Moscow has now decided to auction diamonds. For this, a notification has also been issued by the Russian government. According to the Finance Department of Russia, 2.16 grams of diamonds will be auctioned in Moscow on September 9. These diamonds were kept in the government treasury, which are now ready to be sold.
According to the government, only Russian citizens can buy this diamond. To participate in the diamond auction, it is mandatory to deposit a token money of $2500. For this, the date till 20th August has been fixed.
According to the Russian Finance Ministry, a contract document will be prepared after the successful auction of the diamond. According to this letter, the ownership rights of the diamond will be available.
The government sold a lot of gold
Ukrainian media says that the Russian government has sold a lot of gold from the treasury. According to United News 24, Russia’s Finance Ministry has sold 445 tons of gold in the last 6 months. News agency Bloomberg claimed in March 2026 that Russia had sold gold worth $4 billion in a year.
The Russian government did not deny this. Now the news of selling diamonds from Russia has come to light. Till now, only diamonds weighing less than 2.16 grams were sold in Russia. This is the first time that a diamond weighing more than 2.16 grams has been put up for auction.
Russia’s economic situation is bad
Russia is at war with Ukraine since 2022, due to which its economic condition is not very good. According to government data for 2025, Russia’s budget deficit was 2.6% of GDP, which was the highest after 2020. Due to sanctions, Russia is not able to earn from oil and gas.
Russia’s revenue from oil and gas will decline by 24 percent in 2025. In recent days, Ukraine has fiercely attacked Russia’s oil and gas bases, after which it is believed that Russia’s situation will remain bad this year also.
To deal with these crises, Russia first sold gold and is now busy auctioning diamonds.
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