.RUSSIA'S DIAMOND business is under the gun. On January first the G7, a group of rich countries, as well as the European Association banned bring ins of rough precious stones mined in Russia-- a 3rd of the complete drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration business, and its own chief executive, to its injunctions list. This is actually the initial period of a detailed sanctions scheme: in March the G7 as well as EU will definitely outlaw Russian jewels that have been actually reduced as well as refined abroad. In September they will present a certification plan to verify where gemstones were actually extracted. These steps add up to the largest modification to business in decades. Why possesses it taken so long to impose penalties on Russia's gemstone industry-- and also what impact will they have?