The 52-year-old actor will play an American diamond trader trying to sell blue diamonds of suspicious origin to buyers in Russia, reported Variety.
The film has been helmed by Matthew Ross, made his directorial debut with "Frank & Lola", which premiered at Sundance Film Festival last year.
The shooting for the movie will begin later this year.
Reeves will also be seen in Netflix's anorexia drama, "To The Bone", starring Lilly Collins in the lead.
He will also star in the action film "John Wick: Chapter 2", reuniting with "The Matrix" co-star Laurence Fishburne for the first time. The film releases on February 10.
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