.RUSSIA'S gemstone market is under the gun. On January first the G7, a group of wealthy nations, and the European Union disallowed bring ins of harsh diamonds unearthed in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU incorporated Russia's state mining business, as well as its own president, to its penalties checklist. This is actually the first phase of a thorough sanctions scheme: in March the G7 and EU will certainly ban Russian gems that have been actually reduced and polished abroad. In September they are going to offer a certification program to verify where precious stones were unearthed. These solutions add up to the biggest improvement to your business in years. Why has it taken such a long time to impose penalties on Russia's gemstone business-- as well as what influence will they possess?