.RUSSIA'S gemstone market is actually under pressure. On January first the G7, a team of abundant nations, as well as the European Union outlawed imports of tough gemstones extracted in Russia-- a 3rd of the total drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration provider, and its own leader, to its decrees listing. This is actually the first stage of a comprehensive decrees scheme: in March the G7 and EU will certainly disallow Russian jewels that have been cut as well as fine-tuned abroad. In September they will certainly introduce an accreditation program to verify where precious stones were actually mined. These measures add up to the largest change to business in many years. Why has it taken so long to impose penalties on Russia's precious stone industry-- and what impact will they have?