.RUSSIA'S DIAMOND market is struggling. On January 1st the G7, a group of abundant nations, and the European Union banned bring ins of harsh rubies mined in Russia-- a third of the complete drawn out worldwide in 2022. On January 3rd the EU included Russia's state mining business, as well as its own ceo, to its own decrees list. This is the 1st phase of a complete sanctions system: in March the G7 and EU will certainly outlaw Russian gems that have actually been reduced as well as refined abroad. In September they will definitely launch a qualification program to verify where gemstones were unearthed. These actions add up to the most significant modification to your business in years. Why possesses it taken such a long time to impose sanctions on Russia's diamond industry-- and what effect will they possess?