.RUSSIA'S precious stone business is actually struggling. On January 1st the G7, a group of abundant countries, as well as the European Alliance banned bring ins of tough diamonds mined in Russia-- a third of the overall drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's state exploration provider, and its president, to its own decrees checklist. This is actually the initial phase of a comprehensive decrees program: in March the G7 and EU will disallow Russian treasures that have been actually reduced and fine-tuned abroad. In September they will offer a license program to verify where precious stones were actually unearthed. These procedures amount to the most significant modification to business in years. Why possesses it taken so long to enforce penalties on Russia's gemstone sector-- and also what impact will they possess?