.RUSSIA'S precious stone business is struggling. On January first the G7, a group of wealthy nations, and the European Alliance disallowed bring ins of tough gemstones unearthed in Russia-- a third of the overall extracted worldwide in 2022. On January 3rd the EU added Russia's state exploration company, as well as its own chief executive, to its own injunctions list. This is actually the very first stage of a comprehensive decrees program: in March the G7 and EU will certainly ban Russian treasures that have been actually reduced and also perfected abroad. In September they will definitely launch a qualification program to validate where diamonds were actually unearthed. These solutions add up to the largest modification to business in decades. Why has it taken as long to establish penalties on Russia's gemstone sector-- as well as what impact will they have?