.RUSSIA'S precious stone market is actually under the gun. On January 1st the G7, a group of rich nations, as well as the European Association banned bring ins of rough precious stones mined in Russia-- a 3rd of the complete extracted worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration company, and also its own president, to its own sanctions listing. This is the 1st period of a thorough decrees plan: in March the G7 and also EU will definitely prohibit Russian gems that have been actually reduced and also perfected abroad. In September they are going to introduce a license plan to validate where rubies were actually unearthed. These measures amount to the largest improvement to the business in decades. Why has it taken such a long time to establish decrees on Russia's gemstone sector-- and what impact will they possess?