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The State Duma amends Russia’s Budget Code to allow Gokhran to buy more diamonds at the expense of the country’s 2020 budget

14 september 2020
Image credit: Gokhran

(FINMARKET.RU) - The Russian Federation Government has submitted amendments to the country’s Budget Code (BC) for  consideration by the State Duma to allow Gokhran higher purchases of rough diamonds in 2020, Deputy Finance Minister Alexei Moiseev said at a meeting of the Duma Budget Committee.
"This amendment is connected with the need to fulfill the instructions of the President of the Russian Federation at the request of the President of the Republic of Sakha (Yakutia), Nikolayev to increase the amount of diamonds purchased by Gokhran of Russia due to the difficult situation in the international diamond markets and the need to support production in the Republic of Sakha (Yakutia). This amendment gives the government the right to increase such purchases within the framework of amendments to the budget list," Moiseev said.
In an interview with Interfax, the Deputy Minister clarified that this increase in purchases is expected in 2020 within the sources of the Russian Federation budget. "We are replacing one with another, this is for this year," said Moiseev, adding that it is not yet possible to name diamond procurement numbers, since there is no official decision yet.
The bill in its second reading is scheduled to be considered at a meeting of the State Duma tomorrow.