It was revealed that Russia have exported an astonishing total of just over six and a half million carats of diamond within the first quarter of the year.

The results were made public yesterday and news has travelled quickly. The Russian nation has always exported a vast amount of diamond, however these figures confirm the fact that this level is not only staggering, it is also on the increase.

The most common buyers of Russian diamonds are those countries which make up the EU. These nations have snapped up just over five million carats of Russian diamond during the period, at a total cost of around one hundred and sixty million pounds.

On the reverse side of the coin, Russia actually imported just over sixty five thousand carats of diamond, the majority of which was from EU countries. The value of this amounts to an estimated five million pounds.

The main diamond producer within Russia is Alrosa who command a quarter of the world’s diamond output.

The Russian Ministry announced yesterday that the total profit from the first quarter results stands at over two hundred and ten million pounds, confirming their status as one of the world leaders within the industry.