.RUSSIA'S precious stone market is under the gun. On January first the G7, a group of wealthy countries, as well as the European Association outlawed imports of rough diamonds extracted in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU included Russia's condition mining provider, and its own ceo, to its own penalties checklist. This is actually the first phase of a complete decrees system: in March the G7 and EU are going to prohibit Russian gems that have actually been reduced as well as polished abroad. In September they will definitely launch a qualification scheme to confirm where rubies were actually unearthed. These solutions add up to the largest adjustment to business in decades. Why possesses it taken as long to establish injunctions on Russia's precious stone market-- and what impact will they have?