The Russian diamond industry is reportedly on the path to recovery, after its polished diamond production fell to a low of an unprecedented low of US$350 million in 2009. In a report submitted by the Russian Diamond Manufacturers Association (RDMA) to the International Diamond Manufacturers Association (IDMA), the Russian Federation's diamond industry's production is on the rise, and it is expected that the supply of rough to the industry will increase significantly soon after the presidential elections later this month, leading to double digit growth in the output of polished goods.

The report stated that Russia's diamond manufacturing industry is slowly but surely emerging from the severe crisis of 2009.