.RUSSIA'S precious stone field is under the gun. On January 1st the G7, a group of wealthy countries, as well as the European Union prohibited bring ins of rough gemstones unearthed in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU added Russia's condition exploration provider, and its own ceo, to its own decrees checklist. This is actually the very first stage of a detailed decrees plan: in March the G7 and also EU are going to outlaw Russian treasures that have actually been cut and fine-tuned abroad. In September they will launch a certification plan to validate where rubies were extracted. These steps add up to the largest adjustment to business in decades. Why has it taken as long to enforce sanctions on Russia's gemstone market-- as well as what impact will they possess?