.RUSSIA'S precious stone sector is actually under pressure. On January 1st the G7, a group of rich countries, and also the European Union banned bring ins of tough diamonds extracted in Russia-- a 3rd of the complete extracted worldwide in 2022. On January 3rd the EU added Russia's condition mining provider, and its ceo, to its decrees checklist. This is the first period of an extensive sanctions system: in March the G7 and EU are going to ban Russian gems that have been actually cut as well as refined abroad. In September they will introduce an accreditation system to verify where rubies were actually unearthed. These actions amount to the biggest improvement to your business in many years. Why possesses it taken such a long time to establish sanctions on Russia's precious stone sector-- as well as what influence will they possess?