.RUSSIA'S gemstone industry is actually under pressure. On January 1st the G7, a group of rich countries, and the European Association disallowed imports of harsh diamonds unearthed in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU included Russia's state mining company, and also its own president, to its own sanctions list. This is the initial phase of a detailed sanctions plan: in March the G7 as well as EU will disallow Russian jewels that have actually been actually reduced and polished abroad. In September they will definitely launch an accreditation scheme to validate where precious stones were extracted. These steps add up to the largest adjustment to the business in many years. Why possesses it taken such a long time to impose decrees on Russia's precious stone business-- and what influence will they have?