.RUSSIA'S precious stone market is actually under the gun. On January first the G7, a team of abundant countries, as well as the European Alliance disallowed imports of rough precious stones mined in Russia-- a third of the total removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining company, as well as its own chief executive, to its penalties listing. This is actually the very first stage of an extensive sanctions system: in March the G7 as well as EU will definitely prohibit Russian gems that have actually been cut and perfected abroad. In September they will certainly introduce a certification plan to verify where diamonds were extracted. These solutions amount to the largest change to business in years. Why possesses it taken such a long time to impose sanctions on Russia's precious stone industry-- and also what influence will they have?