The Russian diamond industry is one of the largest in the world, primarily driven by the state-owned company Alrosa. This company is responsible for a significant portion of the country's diamond production, mining both gem-quality and industrial diamonds. Russia's diamond reserves are mainly located in the Siberian region, particularly in the Yakutia area. In addition to mining, the industry also involves cutting and polishing diamonds, with several facilities dedicated to this process. The Russian government plays a crucial role in regulating the industry, ensuring that diamond exports contribute to the national economy while maintaining sustainable practices.