.RUSSIA'S precious stone sector is struggling. On January first the G7, a group of rich countries, and also the European Association outlawed imports of rough precious stones extracted in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU added Russia's state exploration company, as well as its own ceo, to its sanctions list. This is actually the first stage of a detailed penalties scheme: in March the G7 and also EU are going to prohibit Russian treasures that have actually been actually reduced as well as polished abroad. In September they will offer a certification program to verify where diamonds were extracted. These actions add up to the most significant adjustment to business in many years. Why has it taken as long to establish decrees on Russia's gemstone industry-- as well as what influence will they possess?