.RUSSIA'S gemstone field is under the gun. On January first the G7, a team of rich countries, and also the European Alliance prohibited imports of rugged diamonds extracted in Russia-- a 3rd of the overall extracted worldwide in 2022. On January 3rd the EU added Russia's condition mining business, and also its own president, to its sanctions checklist. This is the 1st period of a detailed decrees system: in March the G7 and EU will certainly ban Russian gems that have been actually reduced as well as refined abroad. In September they will launch a qualification scheme to confirm where diamonds were actually mined. These measures add up to the largest adjustment to your business in many years. Why has it taken such a long time to establish sanctions on Russia's precious stone sector-- and also what effect will they possess?