.RUSSIA'S gemstone business is actually under pressure. On January first the G7, a group of abundant countries, and the European Alliance banned bring ins of rugged diamonds extracted in Russia-- a 3rd of the complete drawn out worldwide in 2022. On January 3rd the EU included Russia's state exploration provider, and its chief executive, to its penalties listing. This is the very first stage of a thorough sanctions plan: in March the G7 and also EU will disallow Russian jewels that have been actually reduced and refined abroad. In September they are going to launch an accreditation system to verify where rubies were unearthed. These steps add up to the most significant adjustment to the business in years. Why has it taken such a long time to establish injunctions on Russia's precious stone sector-- as well as what influence will they have?