.RUSSIA'S DIAMOND industry is actually under pressure. On January first the G7, a team of abundant nations, and also the European Union prohibited bring ins of rugged diamonds unearthed in Russia-- a 3rd of the total drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining company, and also its president, to its own sanctions listing. This is the first period of a comprehensive decrees program: in March the G7 and EU will disallow Russian gems that have actually been reduced as well as perfected abroad. In September they will present a qualification scheme to validate where gemstones were actually mined. These actions add up to the biggest modification to business in decades. Why has it taken such a long time to enforce penalties on Russia's precious stone sector-- and what impact will they have?