The diamonds with a total weight of 66 grammes (830 carats) have been confiscated by the Customs officials at the Moscow Sheremetyevo international airport.
The passenger arrived here on a flight from Dubai, however, his identity has not been revealed.
He stashed the undeclared diamonds of various shapes and colours in Apple iPhone 5 boxes 'RIA Novosti' reported.
"The experts roughly estimate the value of the diamonds at 5 million roubles (about USD 162,000)," the Customs press service said.
According to the report, the confiscated diamonds have been sent for further evaluation.
All goods with a total value over USD 13,000 are subject to customs duties and must be declared upon entering the country, according to the Russian rules.