.RUSSIA'S DIAMOND sector is actually under pressure. On January 1st the G7, a group of abundant nations, as well as the European Association banned imports of rough precious stones extracted in Russia-- a 3rd of the total extracted worldwide in 2022. On January 3rd the EU added Russia's condition exploration provider, and its chief executive, to its own injunctions checklist. This is the first phase of a complete decrees program: in March the G7 and also EU will disallow Russian jewels that have actually been actually cut as well as polished abroad. In September they will present an accreditation scheme to confirm where precious stones were mined. These solutions amount to the biggest improvement to your business in decades. Why possesses it taken such a long time to enforce sanctions on Russia's gemstone industry-- and what impact will they possess?