.RUSSIA'S precious stone industry is under pressure. On January 1st the G7, a group of abundant countries, and the European Association outlawed bring ins of rugged diamonds mined in Russia-- a 3rd of the total drawn out worldwide in 2022. On January 3rd the EU added Russia's state mining company, and its own leader, to its sanctions listing. This is actually the first period of a thorough decrees plan: in March the G7 and also EU will outlaw Russian jewels that have actually been cut and fine-tuned abroad. In September they are going to launch an accreditation scheme to verify where precious stones were mined. These procedures amount to the greatest modification to business in many years. Why has it taken so long to establish sanctions on Russia's gemstone market-- and also what impact will they have?