.RUSSIA'S gemstone industry is actually under the gun. On January first the G7, a group of wealthy countries, as well as the European Association outlawed bring ins of tough rubies extracted in Russia-- a 3rd of the complete extracted worldwide in 2022. On January 3rd the EU included Russia's state mining firm, as well as its ceo, to its own sanctions list. This is actually the very first phase of a thorough decrees system: in March the G7 and also EU will certainly ban Russian jewels that have been actually cut as well as fine-tuned abroad. In September they are going to introduce a qualification plan to verify where gemstones were actually extracted. These solutions add up to the greatest change to your business in years. Why has it taken so long to enforce sanctions on Russia's diamond industry-- and what impact will they possess?