The State Administration for the Formation of the State Fund of Precious Metals and Precious Stones of the Russian Federation, storage, dispensing and use of precious metals and precious stones (Gokhran Russia) under the Ministry of Finance (Russian: Государственное учреждение по формированию Государственного фонда драгоценных металлов и драгоценных камней Российской Федерации, хранению, отпуску и использованию драгоценных металлов и драгоценных камней (Гохран России) при Министерстве финансов Российской Федерации), commonly known as Gokhran Russia (Гохран России) or Gokhran (Гохран) is a state institution under the Russian Ministry of Finance, responsible for the State Fund of Precious Metals and Precious Stones of the Russian Federation. It was created by Government Resolution №1378 (21 November 1996). It is responsible for the purchase, storage, sale, and use of precious metals, precious stones, jewellery, rocks, and minerals by the State Fund.
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Diamond purchasing
During the recent financial crisis, the Russian government bought $1 billion in uncut diamonds from the Russian diamond miner ALROSA, in order to support the Russian diamond mining industry while avoiding saturation in the global diamond market and thus further depression of diamond prices. The diamond mining industry is critical to the Yakutia economy.
Other holdings
Gokhran also holds the Order of Victory medals awarded to Konstantin Rokossovsky and Michał Rola-Żymierski.