.RUSSIA'S DIAMOND industry is under the gun. On January first the G7, a group of rich nations, and the European Association prohibited imports of rugged diamonds unearthed in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU added Russia's state exploration provider, and also its own ceo, to its own sanctions list. This is the 1st period of a complete decrees program: in March the G7 as well as EU are going to prohibit Russian jewels that have actually been reduced as well as refined abroad. In September they will present an accreditation plan to verify where rubies were actually unearthed. These steps add up to the largest adjustment to your business in decades. Why possesses it taken as long to enforce sanctions on Russia's gemstone industry-- and also what effect will they have?