.RUSSIA'S gemstone business is actually under pressure. On January 1st the G7, a group of rich countries, and the European Alliance prohibited imports of tough diamonds unearthed in Russia-- a third of the total drawn out worldwide in 2022. On January 3rd the EU added Russia's condition mining company, as well as its ceo, to its own injunctions checklist. This is the first period of an extensive decrees plan: in March the G7 and also EU will certainly disallow Russian jewels that have actually been actually cut and also refined abroad. In September they are going to offer a certification scheme to validate where gemstones were actually extracted. These solutions amount to the largest modification to the business in decades. Why has it taken such a long time to impose sanctions on Russia's diamond field-- as well as what effect will they possess?