.RUSSIA'S precious stone field is struggling. On January first the G7, a group of wealthy countries, as well as the European Union banned imports of tough precious stones mined in Russia-- a 3rd of the total extracted worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration business, and also its own chief executive, to its penalties listing. This is actually the 1st phase of an extensive penalties program: in March the G7 and EU are going to outlaw Russian gems that have actually been reduced and fine-tuned abroad. In September they will definitely offer an accreditation program to confirm where rubies were mined. These solutions add up to the most significant adjustment to the business in many years. Why possesses it taken as long to enforce injunctions on Russia's diamond industry-- as well as what effect will they possess?