.RUSSIA'S gemstone industry is actually struggling. On January first the G7, a team of abundant nations, as well as the European Union outlawed bring ins of rugged diamonds extracted in Russia-- a third of the total extracted worldwide in 2022. On January 3rd the EU included Russia's state mining company, as well as its own president, to its own sanctions list. This is actually the first phase of a complete sanctions system: in March the G7 as well as EU will definitely outlaw Russian treasures that have been cut and also fine-tuned abroad. In September they will certainly present a certification scheme to validate where diamonds were actually extracted. These procedures add up to the greatest change to the business in decades. Why possesses it taken so long to enforce penalties on Russia's diamond sector-- and what influence will they have?