.RUSSIA'S DIAMOND market is actually under the gun. On January 1st the G7, a group of wealthy countries, and also the European Association disallowed bring ins of rough precious stones unearthed in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU added Russia's condition mining business, as well as its own ceo, to its own decrees list. This is the initial stage of an extensive sanctions plan: in March the G7 and also EU are going to outlaw Russian gems that have actually been actually cut and also refined abroad. In September they will offer a license plan to validate where gemstones were actually mined. These actions amount to the largest improvement to business in years. Why has it taken so long to impose sanctions on Russia's ruby field-- and what influence will they have?