Although it's not a new story, the majority of investors have forgotten that Russia is sitting on an enormous stash of diamonds, reportedly enough to supply the global market for the next 3,000 years, according to a recently declassified report.
The question that immediately comes to mind is why Russia has again brought this out into the open.
If the assumption is they're warning they're about to release a large number of them into the market, it could be time for investors to short diamonds and the companies currently selling them.
This would be good for consumers and industries wanting or requiring diamonds, as it would break up the diamond cartel and drive the prices down.
According to the report, the diamonds are about twice as hard as usual diamonds, making them especially attractive for industrial applications needing harder diamonds for machinery.
With Russia needing to take advantage of its natural resources as a major part of its economic strategy, as its need for hard currency suggests selling diamonds would be an attractive way to meet that need.
This is an interesting story that needs to be watched closely for signs diamonds from Russia are being sold on the market in large quantities. It would change the financials for a number of companies supplying the market, as well as costs for those needing a significant amount of diamonds in their businesses.
Another factor to consider is those holding diamonds for investment purposes could get clobberd if the rocks from Russia are released in significant numbers.