.RUSSIA'S gemstone market is under the gun. On January first the G7, a team of rich countries, as well as the European Association banned bring ins of rugged diamonds mined in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU included Russia's condition exploration company, and its president, to its own penalties list. This is actually the initial phase of a complete injunctions scheme: in March the G7 as well as EU are going to disallow Russian treasures that have actually been actually cut as well as refined abroad. In September they will certainly launch an accreditation program to verify where diamonds were actually extracted. These actions add up to the largest adjustment to the business in many years. Why possesses it taken such a long time to establish sanctions on Russia's gemstone sector-- and also what influence will they possess?