.RUSSIA'S precious stone sector is struggling. On January first the G7, a team of rich countries, as well as the European Union outlawed bring ins of harsh precious stones unearthed in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU added Russia's condition mining provider, and also its president, to its sanctions list. This is actually the very first period of an extensive penalties program: in March the G7 as well as EU will ban Russian gems that have actually been actually reduced and also polished abroad. In September they are going to launch an accreditation system to confirm where diamonds were mined. These steps add up to the biggest improvement to business in years. Why possesses it taken so long to enforce sanctions on Russia's precious stone field-- as well as what impact will they have?