OREANDA-NEWS Russian President Vladimir Putin has signed a decree on the creation of a diamond cutting cluster, which will be located in the territories of the Republic of Sakha (Yakutia) and the Smolensk Region. The document is posted on the portal of the official publication of legal acts.

The cluster participants will be individuals and legal entities included in the relevant register, which will be available upon the conclusion of the Almazyuvelirexport Foreign Economic Association.

The Ministry of Finance has been instructed to determine the criteria and procedure for inclusion in the list, and the decree itself will enter into force on March 1, 2027.

Earlier it also became known that the export duty on Russian rough diamonds will amount to 8 percent of the customs value. The relevant government decree will become effective on September 1.