.RUSSIA'S gemstone industry is under the gun. On January first the G7, a team of wealthy nations, as well as the European Alliance outlawed bring ins of rough gemstones extracted in Russia-- a 3rd of the total extracted worldwide in 2022. On January 3rd the EU included Russia's condition exploration firm, as well as its own president, to its decrees list. This is actually the 1st period of a detailed decrees scheme: in March the G7 and EU will definitely prohibit Russian jewels that have been cut and fine-tuned abroad. In September they will definitely introduce a license system to validate where rubies were mined. These actions amount to the largest adjustment to business in years. Why has it taken such a long time to establish penalties on Russia's diamond field-- and what effect will they possess?