.RUSSIA'S DIAMOND industry is actually under the gun. On January first the G7, a group of abundant nations, and the European Union banned imports of tough rubies unearthed in Russia-- a 3rd of the overall removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining firm, as well as its ceo, to its own penalties checklist. This is the first period of a comprehensive penalties plan: in March the G7 as well as EU will prohibit Russian treasures that have been actually reduced and also fine-tuned abroad. In September they will certainly introduce a certification scheme to validate where precious stones were actually unearthed. These measures amount to the biggest change to the business in decades. Why has it taken as long to enforce injunctions on Russia's gemstone industry-- and also what influence will they possess?