.RUSSIA'S precious stone sector is actually under the gun. On January 1st the G7, a team of wealthy nations, and the European Union banned imports of rugged rubies mined in Russia-- a third of the total drawn out worldwide in 2022. On January 3rd the EU included Russia's condition mining firm, and also its own ceo, to its own penalties checklist. This is the 1st period of a thorough decrees program: in March the G7 and also EU will disallow Russian jewels that have been actually reduced as well as polished abroad. In September they will definitely introduce a license scheme to validate where diamonds were mined. These solutions add up to the biggest adjustment to your business in years. Why possesses it taken so long to establish sanctions on Russia's precious stone field-- and what influence will they have?