.RUSSIA'S DIAMOND field is actually under pressure. On January first the G7, a team of wealthy countries, and also the European Union prohibited imports of tough gemstones mined in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU included Russia's condition exploration provider, and its own ceo, to its own penalties list. This is actually the first stage of a comprehensive injunctions scheme: in March the G7 and EU will definitely ban Russian gems that have actually been cut and fine-tuned abroad. In September they will definitely offer a license plan to confirm where precious stones were actually extracted. These solutions add up to the greatest change to your business in years. Why possesses it taken so long to establish sanctions on Russia's ruby market-- and what impact will they possess?