.RUSSIA'S precious stone industry is actually under pressure. On January first the G7, a team of rich nations, and the European Union prohibited bring ins of rugged precious stones mined in Russia-- a 3rd of the overall removed worldwide in 2022. On January 3rd the EU added Russia's state mining firm, and also its own ceo, to its own sanctions listing. This is actually the 1st phase of a thorough penalties plan: in March the G7 as well as EU will certainly disallow Russian jewels that have actually been actually reduced and perfected abroad. In September they will definitely offer a qualification program to verify where precious stones were actually extracted. These steps add up to the greatest improvement to your business in many years. Why possesses it taken such a long time to establish sanctions on Russia's gemstone field-- and also what influence will they have?