.RUSSIA'S gemstone industry is struggling. On January 1st the G7, a group of rich countries, and the European Association banned imports of rough diamonds unearthed in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU included Russia's state exploration business, as well as its own leader, to its own sanctions list. This is the 1st phase of a comprehensive decrees program: in March the G7 as well as EU will definitely prohibit Russian gems that have been actually cut and refined abroad. In September they are going to offer a certification scheme to validate where rubies were extracted. These procedures add up to the most significant adjustment to your business in decades. Why has it taken such a long time to impose sanctions on Russia's gemstone sector-- and what influence will they possess?