.RUSSIA'S DIAMOND business is under pressure. On January first the G7, a group of rich nations, and also the European Union outlawed bring ins of rugged diamonds unearthed in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU added Russia's state exploration provider, and also its president, to its decrees list. This is actually the 1st stage of a complete decrees system: in March the G7 and also EU are going to ban Russian gems that have been actually reduced and also fine-tuned abroad. In September they are going to introduce a certification scheme to confirm where precious stones were mined. These procedures add up to the biggest change to your business in years. Why possesses it taken as long to impose sanctions on Russia's precious stone business-- and also what effect will they have?