.RUSSIA'S gemstone business is actually under pressure. On January 1st the G7, a team of abundant countries, and the European Association disallowed imports of rugged gemstones extracted in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU incorporated Russia's state exploration company, and its leader, to its penalties list. This is actually the first period of a complete injunctions scheme: in March the G7 and EU will outlaw Russian treasures that have actually been reduced and also fine-tuned abroad. In September they will certainly launch an accreditation system to confirm where gemstones were actually mined. These steps add up to the biggest change to the business in decades. Why has it taken so long to impose decrees on Russia's diamond market-- and also what impact will they possess?