.RUSSIA'S precious stone market is actually struggling. On January 1st the G7, a group of abundant countries, and the European Association prohibited bring ins of harsh diamonds unearthed in Russia-- a 3rd of the total extracted worldwide in 2022. On January 3rd the EU included Russia's condition mining business, and also its own chief executive, to its injunctions checklist. This is the first period of a complete penalties program: in March the G7 as well as EU will certainly disallow Russian jewels that have actually been actually cut and polished abroad. In September they will launch a certification plan to verify where rubies were actually unearthed. These steps add up to the largest improvement to the business in years. Why possesses it taken as long to establish penalties on Russia's ruby industry-- and also what effect will they have?