.RUSSIA'S precious stone market is under pressure. On January 1st the G7, a group of rich countries, and the European Association prohibited imports of harsh rubies extracted in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU incorporated Russia's state mining business, as well as its own ceo, to its own decrees list. This is the 1st stage of a comprehensive decrees system: in March the G7 as well as EU will definitely prohibit Russian treasures that have actually been cut and also polished abroad. In September they will certainly launch a certification plan to verify where diamonds were actually extracted. These procedures amount to the largest adjustment to the business in years. Why possesses it taken so long to impose sanctions on Russia's gemstone market-- and what effect will they have?