Alrosa CEO Pavel Marynychov has met with senior officials from Russia’s Finance Ministry and Smolensk Region to review progress on establishing a domestic diamond-cutting cluster.

The meeting with Deputy Finance Minister Alexey Moiseev and Smolensk Region Governor Vasily Anokhin followed a presidential decree signed on August 6, 2026, supporting the development of Russia’s diamond-cutting industry. The initiative is scheduled to take effect on March 1, 2027.

The cluster, linking Smolensk and the Republic of Sakha (Yakutia), aims to strengthen domestic diamond cutting, improve access to high-quality rough diamonds and attract investment in processing. The project is also intended to build a stronger Russian value chain from mining to polished production.

Three production zones have been prepared at the Kristall factory in Smolensk for future participants, equipped with diamond-cutting machinery and other required equipment. Alrosa has also identified partners to provide legal, digital and operational support.

Participants will have access to preferential financing backed by the Smolensk regional government, with equipment purchases financed at 5% annually and investment financing at 8%.

Training is another focus. The Smolensk Regional Technological Academy has introduced programmes for jewellery and diamond-cutting professions. Alrosa is signing agreements with students and guaranteeing employment after graduation. In 2026, 23 students are expected to undertake practical training at Kristall.

Alrosa said the cluster will support employment, regional development and the growth of Russia’s diamond and jewellery sector.