.RUSSIA'S gemstone sector is actually struggling. On January first the G7, a team of wealthy countries, and also the European Association disallowed imports of rough precious stones unearthed in Russia-- a third of the complete drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's state exploration firm, as well as its own leader, to its injunctions listing. This is the 1st period of a complete decrees scheme: in March the G7 as well as EU will definitely disallow Russian gems that have actually been actually reduced and fine-tuned abroad. In September they will certainly present a license system to validate where diamonds were unearthed. These procedures add up to the most significant change to your business in many years. Why possesses it taken so long to impose sanctions on Russia's diamond sector-- as well as what effect will they possess?