DiamondBuzz
Wealthy Russians Surge in Investment-Grade Diamond Purchases Amid Market Uncertainty
Demand for polished diamonds up by 60% as individuals diversify portfolios with gemstones following VAT abolition and growing financial volatility.
Wealthy Russians are increasingly turning to investment-grade diamonds, with purchases of polished stones rising by 60% last year, according to VTB, the country’s second-largest bank. This surge in demand is attributed to the government’s decision to abolish VAT on diamond purchases, which has made gemstones a more attractive investment option.
Oksana Semenenko, vice president at VTB and head of its private banking division, explained that the rarity and uniqueness of diamonds make them especially appealing during times of rising financial market instability and tighter investment restrictions. Many affluent clients are now incorporating alternative investments, including diamonds, into their portfolios, typically allocating 5-10% of their assets to these tangible assets for diversification.
This shift comes amid increasing sanctions from the G7 and restrictions on Russian currency, which have impacted Russian diamond exports. In response, Alrosa, the state-run diamond mining giant, is turning to alternative markets to sell its goods. The company’s Diamond Exclusive program focuses on polishing its largest and highest-quality diamonds, particularly stones of 3 carats or more, to be sold directly to investors through partnerships with VTB and other financial institutions.
DiamondBuzz
De Beers – The New Power Move: Why Natural Diamonds Are The Definitive Daily Essential For The Modern Indian Man
Natural Diamonds Are Emerging As the Ultimate Symbol Of Personal Style, Achievement, and Everyday Luxury For India’s Modern Male Consumer.
Masculine style in 2026 has a new focal point. The conversation around men’s jewellery has moved away from traditional ceremonial wear toward a more personal, everyday expression of identity. Whether it is a signature chain, a sculptural pendant, or a bold ring, natural diamonds have become the primary medium for this new aesthetic.
The data confirms this shift: recent industry research shows that 52% of acquired diamonds in India are now worn every day.
This cultural transformation is most visible where performance meets high-profile style. Indian cricketers are leading the charge, wearing natural diamonds both on and off the field as a mark of their personal journey and quiet confidence. From training sessions to post-match press conferences, icons like Suryakumar Yadav, Abhishek Sharma, and Hardik Pandya treat their bespoke diamond pieces as an extension of their professional “armour.”
This ease with luxury is mirrored globally; Formula 1 icons like Lewis Hamilton have long made natural diamonds central to their paddock style, while the red carpet has seen a surge in unconventional masculine styling. Recent appearances by Jay-Z, who wore a vintage diamond brooch at the collar, highlight that natural diamonds are a core part of the modern fashion vocabulary.
The primary driver of this shift is the Gen Z and Millennial male. Broadly the 18 to 38 age group, this demographic is urban, digitally fluent, and possesses a strong personal aesthetic. Gen Z alone now generates 51% of the total natural diamond market value in India, a 19% increase since 2022.
Most importantly, self-purchase is replacing gifting as the dominant entry point. Men are now research-driven and decisive, choosing to buy natural diamonds to mark professional achievements or simply to refine their daily personal brand.
While Tier 1 metros remain the primary base, aspiration is expanding rapidly into Tier 2 and Tier 3 cities. As high-income Indian households are forecast to grow by 16% through 2030, the male natural diamond consumer of tomorrow is younger, more stylistically confident, and far more willing to invest in himself.
This demand is also shaping a new design language. The lone solitaire stud is being replaced by architectural silhouettes, layered chains, chunky bracelets, and rings with clean, geometric lines. Princess and baguette cuts are increasingly preferred for their sharp, masculine appeal.
As we look toward the next decade, this momentum is only set to accelerate. What began as a styling choice on the cricket pitch has matured into a cultural standard of authenticity and permanence. For the modern Indian man, a natural diamond is more than a luxury, it is an enduring signature of his unique journey.
In an era of fleeting trends, this shift toward the rare and the timeless signals a future where masculinity is defined by a legacy that stays forever.
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