.RUSSIA'S gemstone sector is actually struggling. On January first the G7, a team of abundant nations, and the European Alliance outlawed bring ins of rough diamonds mined in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU incorporated Russia's state mining company, as well as its ceo, to its own penalties list. This is actually the 1st phase of an extensive decrees plan: in March the G7 as well as EU will certainly ban Russian jewels that have actually been actually cut as well as refined abroad. In September they will certainly present a license plan to validate where precious stones were extracted. These steps amount to the biggest change to the business in years. Why possesses it taken such a long time to establish sanctions on Russia's diamond business-- and what effect will they possess?